Crude oil production up 4pc in June

India’s crude oil production rose by over 4 per cent in June, but refineries turned 3.7 per cent less crude oil into petroleum products. Crude production rose 4.1 per cent to 2.75 million tons, despite a 3.5 per cent fall in output of Oil & Natural Gas Corporation to 2.02 million tons, according to the latest data by the petroleum ministry. The higher output may be because of Reliance Industries oil production from Krishna Godavari basin.

ONGC’s 4.5 per cent drop in output dragged down total production during April-June by 1.3 per cent to 8.26 million tons. The output of the state-run firm fell to 6.12 million tons from 6.4 million tons as its prime Mumbai High produced 4.7 per cent less products at 4.25 million tons. Refineries converted 13.15 million tons crude into products in June as opposed to 13.65 million tons in the year-ago period. Reliance Industries’ old Jamnagar refinery processed 10.3 per cent less crude oil at 2.86 million tons. During April-June, refinery production was down 4.1 per cent to 38.38 million tons, with Jamnagar seeing 8.7 per cent drop to 8.59 million tons. Natural gas production was up 36.3 per cent to 3.58 billion cubic metres in June on back of output from RIL’s KG-D6 fields. In April-June the output was up 19.5 per cent to 9.92 bcm.

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