India's crude oil production declines 3.2% in October 2016

India's crude oil production eases 3.3% in April-October 2016

India's crude oil production declined 3.2% to 3.05 million tonnes (mt) in October 2016 over October 2015. Crude oil output of ONGC fell 1.9% to 1.87 mt, while that of private and joint venture (JV) companies dipped 7.5% to 0.90 mt. However, the crude oil production of Oil India improved 3.6% to 0.28 mt in October 2016. ONGC's offshore output declined 3.2% to 1.37 mt, while onshore production rose 1.7% to 0.50 mt.

Crude oil output fell 3.3% to 21.11 mt in April-October period of the fiscal year ending March 2017 (April-October 2016), snapping marginal 0.1% rise recorded in the corresponding period of last year. Output of ONGC eased 1.9% to 12.90 mt, while that of Oil India declined 1.8% to 1.88 mt and private companies fell 6.4% to 6.33 mt in April-October 2016 over April-October 2015.

 

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