India’s crude oil production declined 2.6% in January to 2,511.66 thousand metric tonne (TMT) on a year-on-year basis.

The production during the same period of last year was 2,573.38 TMT.

A statement from the Ministry of Petroleum and Natural Gas said that production was 6.04% lower than the target for January of 2,673.04 TMT.

Cumulative crude oil production during April-January, 2021-22 was 24,890.07 TMT, 4.63% and 2.61% lower than the target for the period and production during the corresponding period of last year respectively, it said.

The oil production by the state-run Oil and Natural Gas Corporation (ONGC) during the month under review was 1,662.79 TMT, which is 3.68% lower than the target of the month and 3.09% lower when compared with production of January 2021.

Oil India Ltd (OIL) produced 255.32 TMT, which is 5.25% higher compared with its production of January 2021 but 9.69% lower than the target of the month.

India’s natural gas production last month was 2,861.09 million standard cubic meters per day (MMSCM), higher by 12.17% than the production of January 2021 but 16.47% lower than the monthly target. Cumulative natural gas production during April-January 2021-22 was 28,535 MMSCM, higher by 20.50% from the corresponding period of last year.
Source: Livemint