The Hindu Business Line : Crude output dips 3% in July

The crude oil output during the month under review stood at 2.801 million tonnes (2.888 million tonnes). The July output was, however, higher by 5.9 per cent than what was produced in the preceding month of the current year, a Petroleum and Natural Gas Ministry data showed.

India imports around 76 per cent of the crude oil it processes. The reason for dip in crude oil output during the month under review was lower production from the Panna-Mukta oil and gas fields. The fields which are in the western offshore produce about 40,000 barrels per day of oil were shut by an explosion in June, and output in July was below normal levels.

According to the data, the natural gas output in July rose by two per cent to 2.772 billion cubic metres (BCM) from 2.717 BCM in the corresponding month last year.

Refinery Output

The refinery production in July grew by 11.8 per cent to 14.308 million tonnes. This was mainly on account of capacity addition and higher capacity utilisation compared with last year. The overall capacity utilisation by oil refiners in July was up by 113.1 per cent, the data showed. The refinery figures are based on a survey of 17 state-owned refineries and two privately-run refineries.

The output at Essar Oil’s Vadinar refinery more than doubled in July. The crude processing at Reliance Industries’ Jamnagar refinery was marginally down in the month under review. Capacity use at Indian Oil Corporation’s seven refineries during July was 106 per cent, the data showed. Hindustan Petroleum Corporation’s two refineries ran at 128.1 per cent of capacity in July, while Bharat Petroleum Corporation’s two plants operated at 108.5 per cent.

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