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India’s monthly crude oil and natural gas production saw a spurt in March against the same month last year. While crude oil production was up 0.94 per cent higher against March 2016, natural gas output was 8.29 per cent higher when compared with the same month last year.
The increase in crude oil production was due to higher output from public sector undertaking, Oil India whose crude oil production was up 9.06 per cent, ONGC showed a 3.32 per cent growth in March 2017 versus March 2016.
The country's natural gas production was driven by ONGC whose 1972.33 MMSCM production was 20.06 per cent higher than the production in March 2016. The domestic refiners turned 0.33 per cent less crude into products during the month under review as against the same month last year. This was due to lower production in joint venture and private refineries during March 2017.
Joint venture refineries processed 14.42 per cent less during the month against March 2016. Production in private refineries during March 2017 was 0.4 per cent lower when compared with March 2016. However, public sector refiners processed 1.57 per cent more crude oil into products during the month versus corresponding month of last year. Utilisation of installed capacity at refineries stood at 109.07 per cent for March 2017, comparably, this was at 117.39 per cent in March 2016. Production of petroleum products during March 2017 was also 2.04 per cent higher than the production in March 2016.
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