India’s crude oil production decreased once again in November after registering the first decline in October since November 2010. According to the data released by the Petroleum & Natural Gas ministry, the crude oil output slipped to 3.084 million metric tonnes (MMT) in November which is around 1.6% below the government’s target of 3.134 MMT while it is around 5.7% down year-on-year.
The oil production in the April-November period stood at 25.527 MMT, which is 0.5% higher than government’s target of 25.403 MMT while it is around 2.9% up over the same period last year. The decline in output of crude oil in November was largely due to lower production from state-run Oil and Natural Gas Corporation's and some non-state companies.
Moreover, the natural gas production in November slumped for the 12th straight month at 3,847.4 million cubic metres (MCM) against government’s target of 4,312.20 MCM, which is a good 10.8% lower, while gas production for the month plunged by 10.1% as compared to November 2010. The natural gas production in the April-November period stood at 32,278.8 MCM, which is 5.5% lower than government’s target of 34,163.6 MCM while it is around 8.5% down over the same period last year.