India's crude oil production declines 4.3% in January 2019

Crude oil production eases 3.8%% in April-January 2019

India's crude oil production declined 4.3% to 2.85 million tonnes (mt) in January 2019 over January 2018. Crude oil output of ONGC fell 3.8% to 1.77 mt, while that of Oil India declined 10.7% to 0.25 mt. ONGC's offshore output fell 5.6% to 1.26 mt, while onshore production rose 0.8% to 0.51 mt. The crude oil production of private and joint venture (JV) companies eased 3.3% to 0.83 mt in January 2019.

Crude oil output declined 3.8% to 28.79 mt in April-December period of the fiscal year ending March 2019 (April-January 2019), in addition to 0.7% decline recorded in the corresponding period of last year. Output of ONGC declined 5.4% to 17.68 mt, while that of Oil India fell 2.2% to 2.77 mt. Further, the crude oil production of private companies also eased 0.6% to 8.34 mt in April-January 2019 over April-January 2018.

 

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