India’s crude oil production drops 2.4% in January to 2,511 TMT

India’s crude oil production fell to 2,511.66 thousand metric tonnes (TMT) in January 2022, which is 2.40 per cent lower than the output registered during the same month last year and 6.04 per cent lower than the official target for the month, the government data showed on Wednesday.

Cumulative crude oil production during the April-January period of the current financial year stood at 24890.07 TMT, which is 2.61 per cent lower than the output registered during the corresponding period of 2020-21, according to data released by the Ministry of Petroleum & Natural Gas.

The cumulative output for the April-January 2021-22 is 4.63 per cent lower than the official target for the period.

Crude oil production by ONGC (Oil and Natural Gas Corporation) in the nomination block during January 2022 was 1662.79 TMT, which is 3.68 per cent lower than the target of the month and 3.09 per cent lower when compared with production of January 2021.

Cumulative crude oil production by ONGC during April-January 2021-22 was 16259.10 TMT, which is 4.29 per cent and 3.93 per cent lower than the target for the period and production during the corresponding period last year respectively.

Crude oil production by OIL (Oil India Ltd) in the nomination block during January 2022 was 255.32 TMT, which is 5.25 per cent higher when compared with production of January 2021 but 9.69 per cent lower than the target of the month.

Cumulative crude oil production by OIL during April-January 2021-22 was 2499.16 TMT, which is 1.21 per cent higher than the production during the corresponding period of last year but 5.16 per cent lower than the target for the period.

Crude oil production by Pvt/JVs companies in the PSC/RSC regime during January 2022 was 593.56 TMT, which is 10.61 per cent lower than the target of the reporting month and 3.50 per cent lower than the monthly production of January 2021.

Cumulative crude oil production by Pvt/JVs companies during April-January 2021-22 was 6131.80 TMT, which is 5.30 per cent and 0.50 per cent lower than the target for the period and production during the corresponding period of last year respectively.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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