India Crude Oil output down marginally
Commodity Online | May 24 2017
UPDATED 15:50:21 IST

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India's Crude Oil production declined 0.62% in April to 2,939 thousand tonnes (TMT) from 2,957 TMT produced in the corresponding period a year ago, while Natural Gas production for the same month grew 1.8% to 2,533 million cubic meter (MMSCM) as compared to the same month a year ago, according to data published by the oil ministry.

State-owned Oil and Natural Gas Corporation (ONGC) which accounted for 57% of the country’s domestic crude oil production in 2016-17 witnessed its production grow by 2.51% to 1,847 MT in April 2017 as compared to the corresponding month a year ago. Its natural gas production grow by 10% to 1,790 MMSCM in April as compared to the corresponding month a year ago.

Crude oil production by Oil India Limited also grew by 4.53% to 273 TMT in April 2017. However, the state-owned company missed its crude oil monthly production target by more than 4% primarily due to less than planned contribution from high producing areas like Greater Hapjan, Shalmari, Chandmari and Moran fields. The company’s Natural Gas production fell for the month of April by 3.62% to 241 MMSCM as compared to corresponding month a year ago.

Crude Oil and Natural Gas production by private players as well as Joint Ventures fell by more than 8% and 17.37% respectively in April 2017 as compared to the corresponding period a year ago primarily due to underperformance of wells in KG-OSN, poor reservoir on Bhagyam field, shutdown of 70 wells in Mangala wells, underperformance of Sohagpur West coal-bed methane block besides others.