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Crude oil production falls by 1% to 3.1 mt in June

23 Jul 2015 Evaluate

India's crude oil production dropped marginally, less than 1% to 3.1 million tonnes (mt) in June 2015 as good showing by ONGC's offshore fields offset fall in output from onland fields. India produced 3.101 mt of crude oil in June as compared to 3.121 mt a year ago. State-owned Oil and Natural Gas Corp(ONGC) produced at almost flat rate of 1.85 mt after over 3% rise in offshore production at 1.38 mt was offset by 7.5% drop in production from onland fields.

During the April-June quarter of the current fiscal, India's crude oil production was 0.86% down at 9.3 mt. Natural gas output was down nearly 6% at 2.72 billion cubic meters. ONGC reported a 5.5% drop in production at 18 bcm and so did private firms like Reliance Industries with output dropping 11% to 377.6 million cubic meters. This was offset by rise in coal-bed methane (CBM) output.

The nation's 22 refineries processed 7.5% more crude oil at 19.48 mt in June as compared to 18.12 mt in the same period a year ago.