Commodities

Domestic crude oil production in May down 7%, gas down 16%

Our Bureau New Delhi | Updated on June 23, 2020

Crude oil processed down 24 per cent

Domestic crude oil production stood at 2.6 million tonnes (mt) while gas production was at 2300 million standard cubic metres during May 2020.

Compared with May 2019, crude oil and gas production were 7.06 per cent and 16.02 per cent lower, respectively.

The lowered crude oil and gas production has been attributed to restriction of movement for field operations in onshore fields due to the Covid-19 lockdown, an official statement said.

Total crude oil processed last month stood at 16.35 mt, 24.24 per cent lower than May 2019. Refinery production of petroleum products, a measure of the total domestic output, fell 21.26 per cent year-on-year to 17.28 mt.

The major reason for lower crude oil processed is is lower demand due to the lockdown impact, the statement added.

Published on June 23, 2020

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