India's oil production in February dips 6.4% to 2.39 million tonnes on lower private sector output
India's oil production fell 6.4 percent in February as a decline in output from fields operated by private firms negated a rise in production from ONGC fields
New Delhi: India's oil production fell 6.4 percent in February as a decline in output from fields operated by private firms negated a rise in production from ONGC fields.
Crude oil production at 2.39 million tonnes in February was 6.41 percent lower than 2.56 million tonnes output in the same month a year back, according to official data released by the oil ministry here.
State-owned Oil and Natural Gas Corp (ONGC) reported a 4.64 percent rise in production at 1.67 million tonnes as output from its offshore fields saw a pick-up.
However, fields operated by the private sector firms reported a 32.6 percent drop with those in Rajasthan seeing a sharp 32.3 percent lower production.
Rajasthan fields operated by Vedanta Ltd was lower because of "shutdown during February 5 to 29, for major plant maintenance activities," the ministry said.
Crude oil production by Oil India Ltd (OIL) in February was 13.13 percent lower at 240,260 tonnes.
Natural gas production dipped almost 9 percent to 2.2 billion cubic meters as ONGC logged over 4 percent lower output on the back of a drop in output from eastern offshore fields.
The ministry said ONGC's lower gas output was due to "less gas production from Vasistha/S1 wells in eastern offshore due to sand incursion issues."
Also, output was less than planned from the Bassein field and Daman Tapti block.
India's nearly two dozen refineries produced 7.38 percent more petroleum products at 21.82 million tonnes on the back of higher output from Reliance Industries' twin refineries at Jamnagar in Gujarat.
During April-February, oil production was almost 6 percent lower at 29.4 million tonnes. ONGC reported a 2.2 percent lower output at 18.8 million tonnes.
Gas production in the first 11 months of current fiscal was 4.2 percent lower at 28.7 bcm.
Refinery throughput in April-February was almost flat at 240 million tonnes.
ONGC Chairman and Managing Director Shashi Shanker said the company has communicated its views on the listing of OVL to the government.
India's oil import bill to jump by $26 billion as depreciating rupee renders imported crude costlier
India, which imports over 80 percent of its oil needs, spent $87.7 billion (Rs 5.65 lakh crore) on importing 220.43 million tonne (MT) of crude oil in 2017-18
Located 80-km off the Mumbai coast, the Bassein gas field, also called the Vasai field, was discovered in 1976 and put in production in 1988.