India's crude oil production declines 6.9% in April 2019

Crude oil production of private companies dips 12.4% in April 2019

India's crude oil production declined 6.9% to 2.71 million tonnes (mt) in April 2019 over April 2018. Crude oil output of ONGC fell 4.9% to 1.69 mt, while that of Oil India declined 3.3% to 0.27 mt. ONGC's offshore output slipped 7.3% to 1.19 mt, while onshore production rose 1.5% to 0.50 mt. The crude oil production of private and joint venture (JV) companies dipped 12.4% to 0.76 mt in April 2019.

Crude oil output declined 4.2% to 34.20 mt in April-March period of the fiscal year ending March 2019 (April-April 2019), in addition to 0.9% decline recorded in the corresponding period of last year. Output of ONGC declined 5.4% to 21.04 mt, while that of Oil India fell 2.5% to 3.29 mt. However, the crude oil production of private companies also eased 1.9% to 9.87 mt in April-March FY2019 over April-March FY2018.

 

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