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Domestic crude oil production fell 0.67 per cent year-on-year in June 2015, while natural gas production fell by 5.93 per cent.
Crude oil production fell to 3.101 million tonnes during the month under review as against 3.121 million tonnes in the same month last year. Weak global prices have kept prices at the retail end low.
While ONGC’s offshore production increased 3.08 per cent it was not enough to compensate for its 7.50 per cent drop from onshore fields and 2.86 per cent drop in production from the private sector and joint venture onshore fields, including Cairn India’s Barmer fields in Rajasthan.
With the demand for natural gas increasing from the power and fertiliser sectors, the drop of 5.93 per cent in domestic production comes as a blow. Natural gas output stood at 2.722 billion cubic metres (against 2.894 bcm).
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