India's crude oil production declines 4.4% in July 2019

Crude oil production dips 6.2% in April-July 2019

India's crude oil production declined 4.4% to 2.77 million tonnes (mt) in July 2019 over July 2018. Crude oil output of ONGC fell 3.2% to 1.73 mt, while that of Oil India declined 4.7% to 0.27 mt. The crude oil production of private and joint venture (JV) companies also eased 6.8% to 0.76 mt in July 2019. ONGC's offshore output fell 4.5% to 1.22 mt, while onshore production slipped 0.1% to 0.51 mt.

Crude oil output declined 6.2% to 10.98 mt in April-July period of the fiscal year ending March 2020 (April-July 2019), in addition to 3.2% decline recorded in the corresponding period of last year. Output of ONGC declined 4.4% to 6.87 mt, while that of Oil India fell 4.0% to 1.08 mt. However, the crude oil production of private companies also eased 10.9% to 3.03 mt in April-July 2019 over April-July 2018.

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