India's crude oil production declines 4.1% in September 2016

Crude oil output dips 3.3% in April-September 2016

India's crude oil production declined 4.1% to 2.92 million tonnes (mt) in September 2016 over September 2015. Crude oil output of ONGC fell 2.8% to 1.80 mt, while that of private and joint venture (JV) companies dipped 7.8% to 0.85 mt. However, the crude oil production of Oil India rose marginally by 0.1% to 0.26 mt in September 2016. ONGC's offshore output declined 4.7% to 1.31 mt, while onshore production rose 2.5% to 0.49 mt.

Crude oil output fell 3.3% to 18.06 mt in April-September period of the fiscal year ending March 2017 (April-September 2016), snapping marginal 0.4% rise recorded in the corresponding period of last year. Output of ONGC eased 1.9% to 11.03 mt, while that of Oil India declined 2.7% to 1.60 mt and private companies fell 6.2% to 5.43 mt in April-September 2016 over April-September 2015.

Powered by Capital Market - Live News