MUMBAI (Commodity Online): Indian crude oil output fell for a second consecutive month in November while natural gas production continued its dismal performance with a 12th consecutive decline, as per a statement by the oil ministry.
Crude oil output fell by 5.7% Year-on-Year in November resulting in a 3.1 million tonnes of less oil.
India's largest energy company, ONGC also saw a decline in production. November month output fell by 4.2% to 1.9 million tonnes. ONGC's Mumbai high fields, which account for 42% of Indian oil output, reported a decline of 5.3%.
Oil output at India's second largest oil company, Oil India Ltd, rose by 3.3% while Cairn India's Rajastan fields saw a marginal 0.1% production increase.
This data comes on the back of increased efforts by the Indian government to boost crude oil imports, particularly from Saudi Arabia. Indian refineries were reported to have approached the Saudi's for a 2 million barrels of additional oil delivery in January.
