Economy

May crude production down, imports higher

Our Bureau New Delhi | Updated on June 22, 2021

Production declines by 6.32% YoY

Domestic crude oil production declined by 6.32 per cent on a year-on-year basis to 24.4 lakh tonnes during May, according to data released by the Ministry of Petroleum and Natural Gas on Tuesday. Domestic production of natural gas, however, grew by 19.1 per cent year-on-year to 2.74 bcm.

In April this year, domestic crude oil production had come in at 25 lakh tonnes. Oil and Natural Gas Corporation Ltd’s crude production fell by 10 per cent year-on-year to 15.5 lakh tonnes. Over 80 workers lost their lives when cyclone Tauktae hit the firm’s Bombay High oilfield last month. ONGC’s gas production also declined by 9 per cent year-on-year to 1.64 bcm.

The commencement of gas production from the U1 field of ONGC’s KG-98/2 Cluster-II has been delayed due to Covid-19, the Ministry said. Gas production from the field is now expected to commence from August.

On the other hand, gas production from the fields operated by the private sector and joint ventures grew over threefold on a year-on-year basis to 868 mmscm.

Overall refinery throughput in the country also grew by 16 per cent on a year-on-year basis to 190 lakh tonnes of crude. However, it remains below pre-Covid levels.

Crude imports during May grew by 18 per cent on a year-on-year basis to 172 lakh tonnes.

Published on June 22, 2021

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