India’s crude oil manufacturing fell 1 per cent in April after decrease output from fields operated by the non-public sector wiped away positive factors by state-owned companies corresponding to ONGC, official knowledge confirmed Tuesday.
India produced 2.47 million tonnes of crude oil in April, down from 2.5 million tonnes in the identical month final yr, based on knowledge launched by the Ministry of Petroleum and Natural Gas.
Oil and Natural Gas Corporation (ONGC) produced 1.65 million tonnes of crude oil in April, which was almost 5 per cent greater than the goal set for it and 0.86 per cent excessive than the 1.63 million tonnes produced final yr.
Oil India Ltd (OIL) produced 3.6 per cent extra crude at 2,51,460 tonnes however fields operated by the non-public sector produced 7.5 per cent much less crude oil at 5,67,570 tonnes.
The authorities has been targeted on elevating home manufacturing of oil and gasoline to chop reliance on imports. India imports 85 per cent of its oil wants and about half of its pure gasoline requirement.
Natural gasoline output rose 6.6 per cent to 2.82 billion cubic meters on the again of upper output from japanese offshore – residence to the KG-D6 block of Reliance Industries Ltd and BP plc.
ONGC produced 1 per cent much less pure gasoline at 1.72 bcm, whereas japanese offshore output jumped 43 per cent to 0.6 bcm, the information confirmed.
The knowledge didn’t give field-wise output.
With demand return, refineries processed 8.5 per cent extra crude oil at 21.6 million tonnes in April. Public sector refineries turned 12.8 per cent extra crude into gasoline, whereas non-public and joint sector models’ crude thruput was 1.8 per cent greater.
Refineries produced 9 per cent extra petroleum merchandise at 22.8 million tonnes in April. Fuel output from public sector models was up virtually 12 per cent at 13 million tonnes, whereas non-public sector models noticed a 7 per cent greater output at 9.6 million tonnes.
Refineries operated at 104.5 per cent of their put in capability to fulfill gasoline demand in April.
Source: www.financialexpress.com”