India's crude oil production declines 0.8% in December 2016

Crude oil production dips 3.2% in April-December 2016

India's crude oil production declined 0.8% to 3.06 million tonnes (mt) in December 2016 over December 2015. Crude oil output of ONGC rose 0.5% to 1.90 mt, while that of Oil India also improved 3.9% to 0.28 mt. However, the crude oil production of private and joint venture (JV) companies dipped 4.8% to 0.87 mt in December 2016. ONGC's offshore output declined 0.7% to 1.40 mt, while onshore production rose 3.7% to 0.51 mt.

Crude oil output fell 3.2% to 27.05 mt in April-December period of the fiscal year ending March 2017 (April-December 2016), in addition to 0.8% fall recorded in the corresponding period of last year. Output of ONGC eased 1.5% to 16.63 mt, while that of Oil India declined 0.8% to 2.43 mt and private companies fell 7.3% to 7.99 mt in April-December 2016 over April-December 2015.

 

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