India Crude Oil production declines 4.15% in FY19
Commodity Online | April 25 2019
UPDATED 16:02:58 IST

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India’s crude oil production for the financial year 2018-19 dropped 4.15% to 34.2 million tonne (MT), compared to 35.68 MT during the financial year 2017-18. On the other hand, natural gas production during the same period showed a marginal increase of 0.69%.

Cumulative natural gas production during April-March period of the last financial year was seen at 32873.37 million metric standard cubic meter (MMSCM), compared to 32649.31 MMSCM during the same period in 2017-18.

Among the public sector undertakings, state-run Oil and Natural Gas Corporation (ONGC) saw 5.4% drop in its crude production during April to March 2018-19 to 21.04 MT versus 22.25 MT during April-March period of 2017-18.

Natural gas production by the company during April-March, 2018-19 was 24674.65 MMSCM, 5.31% higher than the production during the corresponding period of the last year.

Another public sector major Oil India Ltd (OIL) saw a decline in its crude oil production by 2.46% to 3.3 MT during the last fiscal compared to 2017-18. Natural gas production by OIL during April to March period of 2018-19 also declined 5.54% compared to the previous year.

Interestingly, crude oil and natural gas production by the private sector and joint ventures were also down 1.9% and 13.59%, respectively during the period under review.

Refinery production during April-March, 2018-19 was 257204.86 TMT, which was 2.09% higher than the production during the same period last year. CPSE Refineries’ production during the financial year was 150975.66 TMT, 3.95% higher than the production last year.