Economy

India’s oil production dips by 6.4 per cent in February

PTI New Delhi | Updated on March 25, 2020 Published on March 25, 2020

Private sector firms reported a 32.6 per cent drop in output

India’s oil production fell 6.4 per cent in February as a decline in output from fields operated by private firms negated a rise in production from ONGC fields.

Crude oil production at 2.39 million tonnes in February was 6.41 per cent lower than 2.56 million tonnes output in the same month last year, according to official data released by the Oil Ministry in New Delhi.

State-owned Oil and Natural Gas Corporation (ONGC) reported a 4.64 per cent rise in production at 1.67 million tonnes as output from its offshore fields saw a pick-up. However, fields operated by the private sector firms reported a 32.6 per cent drop with those in Rajasthan seeing a sharp 32.3 per cent lower production.

Rajasthan fields operated by Vedanta Ltd was lower because of “shutdown during February 5 to 29, for major plant maintenance activities,” the Ministry said.

Crude oil production by Oil India Ltd (OIL) in February was 13.13 per cent lower at 240,260 tonnes.

Natural gas production falls

Natural gas production dipped almost 9 per cent to 2.2 billion cubic meters as ONGC logged over 4 per cent lower output on the back of a drop in output from eastern offshore fields.

The Ministry said ONGC’s lower gas output was due to “less gas production from Vasistha/S1 wells in eastern offshore due to sand incursion issues.” Also, output was less than planned from Bassein field and Daman Tapti block.

India’s nearly two dozen refineries produced 7.38 per cent more petroleum products at 21.82 million tonnes on back of higher output from Reliance Industries’ twin refineries at Jamnagar in Gujarat.

During April-February, oil production was almost 6 per cent lower at 29.4 million tonnes. ONGC reported a 2.2 per cent lower output at 18.8 million tonnes.

Gas production in the first 11 months of current fiscal was 4.2 per cent lower at 28.7 bcm. Refinery throughput in April-February was almost flat at 240 million tonnes.

Published on March 25, 2020
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