In June 2021, the domestic crude production was 2.48 million tonnes.

Crude production last month was 3.01% short of the 2.51 million tonne targets for the month, said a statement from the ministry of petroleum and natural gas. The target for FY23 is 30.84 million tonnes.

ONGC’s production for the month of June stood at 1.62 million tonnes, 0.21% higher than the output in June last year, but it was 1.11% lower than the target for the month.

The statement attributed the shortfall in ONGC’s production to lower condensate generation in Bassein and Tapti Daman area.

Another state-run energy company, Oil India’s production fell 4.32% on a year-on-year basis to 257,170 tonnes. According to the ministry, Oil India’s production declined due to less than planned contribution from work over wells and loss due to “miscreant activities” in the main producing area (MPA).

The fall in crude oil production comes when crude oil prices remain volatile amid the Russia-Ukraine crisis and concerns of a global slowdown.

India has been making efforts to increase its domestic oil production to reduce import dependence. The country imports around 85% of its energy requirements.
Source: Livemint