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ONGC, OIL push crude oil output up by 0.24%, natural gas by 4%

However, private sector's contribution to both the outputs was very poor

Shine Jacob  |  New Delhi 

ONGC- Oil push crude oil output up by 0.24%, natural gas by 4%

The country's output rose 0.24 per cent and production was up 4.04 per cent in the June quarter of 2017 due to a push from state-run companies like and Corporation (ONGC) and India (OIL).

Cumulative crude production by in Q1 was 5,640.77 thousand metric tonne (tmt), which is 0.22 per cent lower than the period's target but 2.71 per cent higher than production during the year-ago period. produced 839.86 tmt, about 5.22 per cent higher than the last year's corresponding period. 

However, the production from private and joint venture (JV) fields dropped 6.23 per cent to 2,541.74 tmt y-o-y. The overall output in June 2017 was 0.6 per cent higher than June 2016, owing to a better performance by public sector undertakings.  

On the other hand, cumulative production during the April-June period rose 4.04 per cent to 8,057.72 million metric standard cubic meters (mmscm) y-o-y. During the quarter, produced 10.76 per cent higher than the year-ago period's production, while OIL’s output fell 0.98 per cent compared to last year.  

Cumulative production by private and JV players in Q1 was 1,605.39 mmscm, 12.82 per cent lower than the production during the corresponding period of the last year.  In June, the country’s production zoomed 6.05 per cent y-o-y.

Closure of some wells in Rajasthan and majorly contributed to the drop in private sector's crude production. Meanwhile, under performance of coal bed methane wells at Sohagpur West by (RIL), closure of few wells in Raniganj East by Essar, delay in grant for petroleum mining lease in Hindustan Exploration Company (HOEC) and closure of two wells in D1D3 field and one well in MA field in KG-DWN-98/3 by RIL are the major reasons behind the drop in production by private sector compared to the year-ago period.

production in June 2017 was 20,057.80 tmt, 0.11 per cent higher than the target but 0.54 per cent lower y-o-y. Cumulative production in Q1 was 60,898.38 tmt, 1.04% higher than the output during the year-ago period.

First Published: Tue, July 25 2017. 01:33 IST
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