India's crude oil production declines 4.3% in December 2018

Crude oil production falls 3.7% in April-December 2018

India's crude oil production declined 4.3% to 2.86 million tonnes (mt) in December 2018 over December 2017. Crude oil output of ONGC fell 5.4% to 1.76 mt, while that of Oil India declined 4.7% to 0.27 mt. The crude oil production of private and joint venture (JV) companies eased 1.7% to 0.83 mt in December 2018. ONGC's offshore output fell 7.7% to 1.25 mt, while onshore production rose 0.7% to 0.51 mt.

Crude oil output declined 3.7% to 25.94 mt in April-December period of the fiscal year ending March 2019 (April-December 2018), in addition to 0.4% decline recorded in the corresponding period of last year. Output of ONGC declined 5.6% to 15.91 mt, while that of Oil India fell 1.3% to 2.52 mt. However, the crude oil production of private companies also eased 0.3% to 7.51 mt in April-December 2018 over April-December 2017.

 

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