NEW DELHI (Commodity Online): India's crude oil production during the April- November 2011 period stands at 25.527 million metric tons (MMT), higher by 2.9% against 24.812 MMT in 2010, while Natural gas production fell by 8.5% to 32278.8 MMT, according to government data.
The crude oil production for November month was below the target of 3.134 MMT, fell by 1.6% to 3.084 MMT.
Less than anticipated oil gain from development wells and from asai East and also the production effected due to high GOR/high water cut has contributed to the fall in crude oil production in November.While for natural gas, the production was affected by the less than anticipated production from B-22 field and under performance of newly drilled wells.
The state run Oil and Natural Gas Corperation (ONGC), (NSE:ONGC, BSE: 500312 ), was below the November target. The production fell by 1.1% to 1.9400 MMT.
On BSE, the company closed on a positive note. The trade closed high 1.57% to Rs 264.75 on 22nd December
