The Hindu Business Line : Crude output rises 2.3% in Feb

New Delhi, March 26 The country’s crude oil production increased 2.3 per cent and natural gas output rose 4.7 per cent in February compared with the same month last year. The refinery output was up 5.8 per cent due to rise in domestic consumption.

According to data released by the Petroleum Ministry, crude oil production at 2.728 million tonnes (mt) in February was higher than 2.666 mt in the same month last year. However, the output was 3.6 per cent lower than targeted production of 2.83 mt for the month partly due to shortage of offshore rigs. Natural gas production was up at 2.63 billion cubic metre (bcm).

For April-February period, crude oil output was almost unchanged at 31.192 mt, while the natural gas production went up 2 per cent.

Company-wise output

The country’s 19 refineries produced 12.784 mt of petroleum products in the month under review against 12.087 mt in the same month last year. Reliance Industries produced 2.921 mt of products, while Indian Oil Corporation saw a 2.3 per cent increase to 3.692 mt.

Refineries operated at 108.3 per cent of their installed capacity in February and at 104.6 per cent of the capacity in the April-February period.

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