India's crude oil production declines 5.1% in October 2019

India's crude oil production dips 5.8% in April-October 2019

India's crude oil production declined 5.1% to 2.74 million tonnes (mt) in October 2019 over October 2018. Crude oil output of ONGC fell 3.0% to 1.71 mt, while that of Oil India declined 3.7% to 0.27 mt. The crude oil production of private and joint venture (JV) companies dipped 10.0% to 0.75 mt in October 2019.

ONGC's offshore output fell 3.6% to 1.20 mt, while onshore production also slipped 1.4% to 0.51 mt.

Crude oil output declined 5.8% to 19.11 mt in April-October period of the fiscal year ending March 2020 (April-October 2019), in addition to 3.6% decline recorded in the corresponding period of last year. Output of ONGC declined 3.8% to 11.97 mt, while that of Oil India fell 4.2% to 1.89 mt. However, the crude oil production of private companies also eased 10.6% to 5.26 mt in April-October 2019 over April-October 2018.

 

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