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The country’s natural gas production grew 19.45 per cent y-o-Y to 2896.69 million standard cubic metre (MSCM) in December 2021 largely due to higher production from Reliance Industries (RIL) and from BP’s ultra-deep-water field in the KG-D6 Block of the Krishna Godavari basin on the East Coast.
However, the output was lower by 14.93 per cent against the monthly target of 3,405.26 MSCM. During the April-December period in FY22, the total natural gas production stood at 25,673.90 MSCM, which was 21.51 per cent higher on an annual basis, but was lower by 8.75 per cent compared to the target of 28,136.95 MSCM for the period.
The natural gas production by private sector and JVs companies in the PSC/RSC/CBM regime in December 2021 rose 145.98 per cent Y-o-Y to 899.22 MSCM, but 21.46 per cent lower than the target for the month. Cumulative natural gas production in April-December 2021 also rose 192.55 per cent to 7,942.31 MSCM, but 5.73 per cent lower than target for the period.
Crude oil output down
India’s crude oil production in December 2021 fell marginally by 1.81 per cent y-o-y to 2,509.98 TMT (thousand metric tonnes). It was also lower by 5.19 per cent than target for the month. Cumulative crude oil production during April-December period in FY22 fell 2.63 per cent Y-o-Y to 22,378.40 TMT. It was also 4.47 per cent per cent lower than the target for the period.
India imports 85 per cent of its crude oil requirements and around half of its natural gas requirement.
Petro products
The production of petroleum products during December 2021 stood at 22,754.72 TMT — which was 5.93 per cent higher than production in December 2020 as well as 3.27 per cent higher than target for the month. Cumulative production during April-December 2021 stood at 186,008.63 TMT, which was 10.02 per cent higher than the year-ago period, but lower by 0.28 per cent than target for the period.
Crude oil processed rose by 2.18 per cent y-o-y to 21,482.88 TMT, but it was lower by 0.44 per cent than the monthly target. Overall, crude throughput during April-December in FY22 rose 10.51 per cent to 177,215.39 TMT. However, it was lower by 0.97 per cent than the monthly target.
The refineries’ installed capacity utilisation stood at 101 per cent last month, while for the April-December 2021 period, they operated at a utilisation capacity of 85.18 per cent.
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