India's crude oil production dips 5.4% in July 2018

Crude oil production declines 3.2% in April-July 2018

India's crude oil production declined 5.4% to 2.90 million tonnes (mt) in July 2018 over July 2017. Crude oil output of ONGC fell 6.7% to 1.79 mt, while that of Oil India declined 0.4% to 0.29 mt. The crude oil production of private and joint venture (JV) companies also dipped 4.1% to 0.82 mt in July 2018. ONGC's offshore output fell 9.8% to 1.28 mt, while onshore production rose 2.1% to 0.51 mt.

Crude oil output fell 3.2% to 11.70 mt in April-July period of the fiscal year ending March 2019 (April-July 2018), snapping 0.1% rise recorded in the corresponding period of last year. Output of ONGC declined 5.0% to 7.18 mt, while that of Oil India fell 0.3% to 1.13 mt. However, the crude oil production of private companies was flat at 3.40 mt in April-July 2018 over April-July 2017.

 

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