INDIA'S OIL SECTOR HAS MORE SETBACKS

India's petroleum sector continues to lag expectations. Indian crude oil production is expected to fall by 20,000 b/d in fiscal 1992-93 from the current fiscal year ending Mar. 31. At the same time, India's imports of crude and refined products are projected to jump sharply in the coming fiscal year. Meantime, despite earlier pronouncements to the contrary, it's apparent only one of three 120,000 b/d grassroots refineries planned for the 1991-95 planning period in India will

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