India's crude oil production decreased 3.8% in July

24 Aug 2022 , 07:45 AM

According to official data released on Tuesday, India’s crude oil production decreased 3.8% in July as a result of lower output from fields run by the state-owned ONGC and private sector companies. From 2.54 million tons a year earlier, crude oil production–which is refined to make fuels like gasoline and diesel–dropped to 2.45 million tons in July.

According to the Ministry of Petroleum and Natural Gas’s data, the output fell short of the monthly target of 2.59 million tons.

At 1.63 million tons, Oil and Natural Gas Corporation (ONGC) produced 1.7% less oil due to lower output from western offshore. Production decreased by 12.34% in fields run by private businesses.

However, compared to April through July 2021, when output was 9.96 million tons, it was only slightly lower during the first four months of the current fiscal, which started on April 1.

On August 4, Oil Minister Hardeep Singh Puri tweeted that the trend of diminishing crude oil production had changed.

Data from the ministry show that Vedanta’s Rajasthan block had a lower output than ONGC’s oilfields in Gujarat and Assam.

According to the information presented on Tuesday, natural gas output was nearly steady in July at 2.88 billion cubic meters but was 3.4% higher from April to July at 11.43 bcm.

In July, ONGC’s gas output decreased by roughly 4% as a result of decreased gas production in the Mumbai offshore Daman field.

Refineries processed 83.96 million tons of crude oil between April and July, operating at 103.87% of their capacity, compared to an operating rate of 92.01% for processing 76.64 million tons.

Fuel production increased by 6.23% in July to 21.97 million tonnes and by 11.67% from April to July to 90 million tons.