India's crude oil output down marginally at 3.1 MT

Image
Press Trust of India New Delhi
Last Updated : Jul 21 2015 | 5:57 PM IST
India's crude oil production slipped marginally, less than 1 per cent, to 3.1 million tonne in June as good showing by ONGC's offshore fields offset fall in output from onland fields.
India produced 3.101 MT of crude oil in June as compared to 3.121 MT a year ago, an official statement said here.
State-owned Oil and Natural Gas Corp (ONGC) produced at almost flat rate of 1.85 MT after an over 3 per cent rise in offshore production at 1.38 MT was offset by 7.5 per cent drop in production from onland fields.
During the April-June quarter of the current fiscal, India's crude oil production was 0.86 per cent down at 9.3 MT.
Natural gas output was down nearly 6 per cent at 2.72 billion cubic meters. ONGC reported a 5.5 per cent drop in production at 18 bcm and so did private firms like Reliance Industries with output dropping 11 per cent to 377.6 million cubic meters. This was offset by rise in coal-bed methane (CBM) output.
The nation's 22 refineries processed 7.5 per cent more crude oil at 19.48 million tonne in June as compared to 18.12 MT in the same period a year ago.
RIL's Jamnagar refinery in Gujarat processed 4.26 per cent more crude oil at 2.7 MT while its neighbouring SEZ unit had a 2.47 per cent lower crude output at 3.02 MT.
Essar Oil, the nation's only other private refiner, also had 1 per cent lower crude output at 1.7 MT.
Public sector refiners like Indian Oil Corp posted 11.36 per cent rise in crude output at 10.55 million tonnes.
RIL's twin refineries operated at a combined 116.66 per cent of the installed capacity while Essar Oil's Vadinar refinery in Gujarat operated at 103.1 per cent.
PSU refineries operated at 107.3 per cent of their capacity, the statement said.
Refineries produced 6.2 per cent more fuel at 18.87 million tonnes in June.
While RIL produced 1.5 per cent less fuel at 5.89 MT, PSU refineries posted a smart 10.4 per cent rise in production of petroleum products at 9.95 MT.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Jul 21 2015 | 5:57 PM IST

Next Story