India's crude oil production declines 5.4% in November 2016

Crude oil output falls 3.5% in April-November 2016

India's crude oil production declined 5.4% to 2.88 million tonnes (mt) in November 2016 over November 2015, recording fall for ninth straight month. Crude oil output of ONGC fell 0.7% to 1.82 mt, while that of private and joint venture (JV) companies dipped 16.5% to 0.78 mt. However, the crude oil production of Oil India improved 1.7% to 0.27 mt in November 2016. ONGC's offshore output declined 1.9% to 1.33 mt, while onshore production rose 2.4% to 0.49 mt.

Crude oil output fell 3.5% to 23.99 mt in April-November period of the fiscal year ending March 2017 (April-November 2016), in addition to 0.4% fall recorded in the corresponding period of last year. Output of ONGC eased 1.7% to 14.72 mt, while that of Oil India declined 1.4% to 2.15 mt and private companies dipped 7.6% to 7.12 mt in April-November 2016 over April-November 2015.

 

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