Page 4 - Crude Oil Production

Govt owned refiners increase Russian oil imports despite G7 price cap

The Indian imports from Russia increased due to a lower demand from China leaving more oil to be supplied to the Indian markets, an industry expert said

India's core sector output slowed to 8% in July 2023, shows govt data

Crude oil production saw positive growth (2.1%) for the first time in 14 months since May 2022

Global oil prices up due to tighter supply, China economy in focus

U.S. West Texas Intermediate crude futures gained 10 cents, or 0.13 per cent, to $81.74

Oil prices decline amid caution ahead of Jerome Powell's remarks

Brent crude fell 18 cents, or 0.2%, to $83.03 a barrel by 2:08 p.m. EDT (1808 GMT). U.S. West Texas Intermediate crude fell 16 cents, or 0.2%, to $78.73 a barrel

India's overdrive to trim fuel output investments threatens supply security

Oil ministry's plans involve a rapid exit from fuels without considering implications, writes S Dinakar

Oil dips further on China's economic recovery worries, strong dollar

U.S. West Texas Intermediate crude settled down 68 cents, or 0.82%, at $82.51 a barrel. Brent crude futures finished at $86.21 a barrel, down 60 cents, or 0.69%

Ageing wells, govt pricing, tax policies hamper crude oil production

Production has been falling consistently over years

Sale of petroleum products halves in Pakistan, high inflation to blame

The marginal recovery in diesel sales during the month of April can be attributed to increased mobility due to the festive season and Eid holidays

Putin says Russia may cut its oil output in response to G-7 price cap

A decision on Moscow's response to EU price cap will be announced in a presidential decree within the next several days, says Putin

European sanctions on Russian oil lead to a traffic jam on Turkey's coast

The government in Ankara is insisting the ships have a letter from their insurer guaranteeing cover while in Turkish waters -- something that's yet to happen

Rice production, telecom subscribers pull down GDP growth in Q2 FY23

Steel consumption, commercial vehicle sales and some other sectors help economy

Mineral production increases by 4.6% during September: Ministry of Mines

The index of mineral production of mining and quarrying sector in September 2022 at 99.5 was 4.6% higher as compared to the level in March 2021

Russia bounces back to become India's second-largest crude supplier in Sep

Russian oil has become the mainstay of Indian refiners in only six months, a position which took decades for West Asian suppliers and the US to achieve

India's crude oil production falls 3.8% to 2.45 MT in July: Govt data

India's crude oil production fell 3.8 per cent in July on lower output from fields operated by state-owned ONGC and private sector firms, government data released on Tuesday showed. Production of crude oil, which is refined to produce fuels such as petrol and diesel, fell to 2.45 million tonnes in July from 2.54 million tonnes a year back. The output was lower than the monthly target of 2.59 million tonnes, the data released by the Ministry of Petroleum and Natural Gas showed. Oil and Natural Gas Corporation (ONGC) produced 1.7 per cent less oil at 1.63 million tonnes on lower output from western offshore. Fields operated by private firms saw a 12.34 per cent decline in production. But the oil production during the first four months of the current fiscal that began on April 1 was only marginally lower at 9.91 million tonnes as opposed to 9.96 million tonnes during April-July 2021. Oil Minister Hardeep Singh Puri on August 4 tweeted that the declining trend in crude oil production

Oil prices edge up on supply concerns after drop to near 6-month low

(Reuters) -Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.

Windfall tax review more likely now after fall in global crude prices

Post windfall tax, the realised spread on diesel and gasoline has fallen to near loss-making levels while the realisation on aviation fuel and crude have also gone below 15-year averages

Govt imposes windfall tax on oil producers, raises import duty on gold

To curb gold imports, govt hikes customs duty on the metal to 15% from 10.75%

Domestic crude oil producers get marketing freedom, exports not allowed

According to a government statement, this move shall ensure marketing freedom for all exploration and production (E&P) operators

Indian oil firms to compensate ethanol makers for energy costs: Report

Indian state fuel retailers have agreed to provide monetary relief to sugar mills and other producers of ethanol to compensate for high energy costs to boost biofuel production, according to a letter.

ONGC sees crude oil production rising 11%, gas output jumping 25% by FY25

Reversing the declining trend of the past few years, ONGC said its crude oil production will rise 11 per cent and natural gas output will jump 25%