Business Daily from THE HINDU group of publications
Thursday, Aug 23, 2007
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Business Daily from THE HINDU group of publications Thursday, Aug 23, 2007 ePaper |
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Petroleum Industry & Economy - Petroleum Crude oil output up in July
Our Bureau New Delhi, Aug 22 The country’s crude oil output in July was 0.9 per cent higher than the corresponding month last year, while natural gas production dipped by 1.7 per cent. The crude oil production during the month under review stood at 2.888 million tonnes, up from 2.863 million tonnes in the same month last year. The output in June this year stood at 2.77 million tonnes. According to the Petroleum and Natural Gas Ministry data, natural gas output during the month was down at 2.715 billion cubic metre (BCM) compared with 2.76 BCM in the same month last year. The state-owned and private sector refiners together processed 4.6 per cent more crude oil during the month under review compared with the corresponding month last year. However, refinery production was 1.07 per cent lower from 12.93 million tonnes in June this year. The refiners processed 12.79 million tonnes of crude oil in July, up from 12.226 million tonnes in the corresponding month last year. Refining in July was up 10.5 per cent from the July target of 11.57 million tonnes. The year-on-year rise in refinery production was due to the commissioning of Essar Oil’s Vadinar refinery in November last year, and expansion of IOC’s Panipat refinery to 12 million tonnes in January. According to the data, refineries ran at 101.4 per cent of capacity in July compared with 108.6 per cent a year earlier.
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