India’s output of crude oil, which is refined to produce petrol and diesel, continued to decline in November, falling more than 2% due to lower output from state-owned firms, official data said on Tuesday. Shown.
Oil production stood at 2.43 million tonnes in November, up from 2.48 million tonnes a year ago and 2.5 million tonnes in October.
Oil and Natural Gas Corp (ONGC) produced 1.6 million tonnes of crude oil 3% lower in November due to delays in mobilizing equipment in western offshore fields. Oil India Limited (OIL) produced 2,41,420 tonnes of crude oil in November, up from 2,43,200 tonnes a year ago and 2,52,990 tonnes in October.
India is 85% dependent on imports to meet its crude oil requirements as domestic production is insufficient to meet demand.
During April-November – the first eight months of the current fiscal – crude oil production fell by 2.74% to 19.86 million tonnes. ONGC produced 4.18 per cent less oil at 12.94 million tonnes.
However, natural gas production was up 23% in November at 2.86 billion cubic meters (BCM), mainly due to production from new fields in the KG-D6 block operated by Reliance Industries Ltd and BP Plc.
ONGC produced 5.28% less gas at 1.72 bcm, while production from the eastern offshore – where KG-D6 is located – increased by 1,251% to 581.34 million cubic metres.
Data did not output individual fields.
Reliance-BP started gas production from new fields in the KG-D6 block last year.
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