New Delhi: Indian crude oil production continues a downward trend, down more than 3 percent in July as the state ONC produces less than the target.
The country’s crude oil production fell 3.2 percent in July to 2.5 million tons compared to the previous year, and by 3.37 percent in April-July to 9.9 million tons, according to data issued by the Ministry of Petroleum and Gas Earth Tuesday.
Oil and Natural Gas Corporation (ONGC), the largest oil and gas producers in the country, produce 1.6 million tons of crude oil in July.
This was 4.2 percent lower than last year and 3.8 percent less than the target of 1.7 million tons.
During April-July, Ongc oil output fell 4.8 percent to 6.4 million tons.
Natural gas production shows a contrasting trend.
Assisted by the KG-D6 Reliance-BP field, gas production rose 18.36 percent year-to-year to 2.9 billion cubic meters and nearly 20 percent in April to July to 11 BCM.
While gas production from the ONTC field fell more than 10 percent, output from off the east coast – where the KG-D6 field was – soaring 12 times to 573.13 million cubic meters.
“Increasing gas production is through the contribution of the field of D-34 KG-DWN-98/3 (KG-D6), which starts from the 18.2020 well (and) of the satellite cluster (starting with the effect of April 25, 2021),” Note Employment for the data.
Because fuel demand rebounds, oil refineries process more crude oil in July.
At 19.4 million tons, crude oil processing in July was 9.6 percent higher than last year.
The coarse throughput in July was the highest in three months, because the easing of Koronavirus restrictions encouraged economic activity and feed fuel demand.
Public sector refinery is processed 5.6 percent more crude oil at 11 million tons while the private refiner dependency industry becomes 14.4 percent more raw to fuel.
The refinery produced 6.7 percent more petroleum products in July of 20.7 million tons and 13 percent more in April-July at 80.6 million tons.
Overall, the refinery operates at 91.34 percent of their installed capacity.