India's crude oil production falls 7%; pushes import dependence to 84% in June

India’s crude oil production falls 7%; pushes import dependence to 84% in June New Delhi: India’s domestic crude oil production in June 2019 declined 7 per cent to 2,688 thousand tonne (TMT), pushing the country’s crude oil import dependence to 84 per cent for the same month.

India produced 2,884 TMT of crude oil in the corresponding month a year ago.

Cumulatively, the country’s crude oil production in the first three months (April-June) of financial year 2019-20 (FY20) decreased 7 per cent to 8,207 TMT, pushing the country’s crude oil import dependence to 85.2 per cent in the first three months of the current financial year. India’s crude oil import dependence during the corresponding quarter a year ago was lower at 83.8 per cent.

Oil Company June FY 20 June FY19 % difference
ONGC 1,686.22 TMT 1,774.08 TMT (5)
Oil India 267.46 TMT 278.54 TMT (4)
PSC Fields 734.38 TMT 831.77 TMT (12)
Total 2688.06 TMT 2884.39 TMT (7)
Source: MoPNG

ONGC
Oil and Natural Gas Corporation (ONGC), country’s largest producer of oil and gas’ crude oil production declined 5 per cent to 1,686 TMT in June 2019, as compared to 1,774 TMT produced in the corresponding month a year ago.

According to oil ministry’s statistical arm, the company’s crude oil production declined primarily due to less off-take by consumers -- Tripura, Cauvery and Rajahmundry.

Cumulatively, the oil and gas explorer’s domestic crude oil production during the first three months of FY20 decreased 5 per cent to 5,137 TMT, as compared to 5,392 TMT produced in the corresponding period a year ago.
Oil India
Oil India, the country’s second government-owned oil and gas explorer’s crude oil production in June 2019 declined 4 per cent to 268 TMT, as compared to 279 TMT produced in the corresponding month a year ago.

The oil ministry data said that the company’s crude oil production declined primarily due to less than planned contribution from workover wells and drilling wells.

Cumulatively, the oil and gas explorer’s domestic crude oil production during the first three months of FY20 declined 3.73 per cent to 807 TMT, as compared to 838 TMT produced in the corresponding period a year ago.

Private operators and joint ventures
Crude oil production by private operators and from fields under Production Sharing Contracts (PSC) declined 12 per cent to 734 TMT in June 2019, as compared to 832 TMT produced in the corresponding period a year ago.

According to oil ministry’s statistical arm, the decline in production by joint ventures and from PSC fields took place in the month primarily due to operational issues in Cairn Oil and Gas’ Mangla, Bhagyam, Aishwarya Barmer Hill fields.

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