Is it Money Laundering

>Was Petroleum Products Exp $10b/Yr Money Laundering?

October28, 2017 (C) Ravinder Singh progressindia2015@gmail.com

Just imagine had RIL been selling its petroleum products at International Commodity Trading Exchanges – Can it sell Rs.19,970 Per Tone Petroleum Products at Rs.29750 Per Tone? Answer is IMPOSSIBLE, that why I believe it to be Money Laundering.

 

Difference of Rs.10,000/T for 65m Tones is Rs.65,000 Cr Annual Money Laundering.

Before confirming the above headlines I wanted to be sure – on page 172 of the petro stats it clear that Spot Price of Petrol at Singapore Trades was $56.49, Diesel $58.14, Aviation Turbine Fuel $58.27 all US Dollars per barrel for June2016. So there is practically no difference in prices of Petrol, Diesel & ATF – India trading petroleum bulk products.  

 

Data provided by Petroleum ministry reveal when products Petroleum Products Average Price was Rs.19970 Per Tone  – mainly Private Refiners were Charging Rs.29750 Per Tone for Exports 49% Margin. Since Pvt Refiner RIL imports Crude Oil, process it and Exports it – RIL can’t export at a loss so difference of $150 Per Tone Plus Cost of Transport & Refining – is Money Laundering or Fake Exports, mainly Sell Petrol & Diesel at RIL Retail Outlets at $1000 per tone. Following Data is Culled from Petro Stats P-97.

 

Rates in Rs. Per Kg [Crude Oil & Petroleum Products]

 

A(3/2)

B(5/4)

C(7/6)

Difference

Difference

Years

Crude O. Imp

PP Imp

PP Exp

B-A

C-B Margin %

2010-11

27.83

32.22

33.32

4.39

1.10 > 3.4%

2011-12

39.14

42.96

46.79

3.82

3.83 > 8.9%

2012-13

42.46

42.10

50.48

(-) 0.36

8.38 >19.9%

2013-14

45.70

45.45

54.27

0.25

8.82 > 19.4%

2014-15

36.29

35.04

45.14

(-) 1.25

10.1 > 28.8%

2015-16

20.54

22.19

29.20

1.65

7.01 > 31.6%

2016-17

21.98

19.97

29.75

(-) 2.01

9.78 > 49%

 

Crude Oil Imp & Petroleum Products Imp & Exp in 000 tones & Rs. Cr

Years

Crude O. Imp

Value

PP Imp

Value

PP Exp

Value

1.

2.

3.

4.

5.

6.

7.

2010-11

163595

455276

17379

55998

59077

196861

2011-12

171729

672220

15849

68091

60837

284644

2012-13

184795

784652

16354

68852

63408

320090

2013-14

189238

864875

16697

75896

67864

368279

2014-15

189435

687416

21301

74644

63932

288580

2015-16

202850

416579

29456

65361

60539

176780

2016-17

213932

470251

35413

70727

65513

194893

 

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS

Y-77, Hauz Khas, ND -110016, India. Ph: 091- 8826415770 [4G], 9871056471, 9718280435,

Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,

Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects

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