Business Daily from THE HINDU group of publications
Friday, Jul 27, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Jul 27, 2007 ePaper |
|
|
|
|
|
|
|
Industry & Economy
-
Petroleum Crude oil, natural gas output in June dips
Our Bureau New Delhi, July 26 The country’s crude oil production in June was 1.6 per cent lower than the May output and 1.8 per cent less compared with the same month last year. The natural gas production was down 3.8 per cent during the month under review. In June, 2.77 million tonnes (mt) of crude was produced down from 2.826 mt produced in the corresponding month last year, according to a Petroleum Ministry data. India imports around 76 per cent of the crude oil it processes. In June, India produced 2.582 billion cubic metre of natural gas, which was down from 2.685 billion cubic metre during the same month last year. Crude processing
However, the oil refiners processed 9.8 per cent more crude in June than a year ago. The main reason for higher processing was plants running at higher rates and utilising added capacity to gain from higher global margins, the data showed. The refiners processed 12.91 mt of crude oil in June, up from 11.76 mt in the same month a year earlier. In the April to June period, the refiners processed 38.75 mt, representing an 11.8 per cent on-year increase. New capacity was added as privately-owned Essar Oil Ltd’s 7.5 mt a year refinery at Vadinar started operations in late 2006, while state-run Indian Oil Corporation doubled the capacity of its Panipat refinery in northern India to 12 mt. The country’s two private refineries, Reliance Industries Ltd’s Jamnagar refinery and Essar Oil’s Vadinar refinery, processed 25.7 per cent more crude during the first quarter of the fiscal compared to the same month last year, while IOC processed 19.9 per cent more crude. The refinery figures are based on a survey of India’s 17 state-owned refineries and two privately-run refineries.
Related Stories: More Stories on : Petroleum
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2007, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|