Covid hit: Crude oil and natural gas production fall in Jan

Crude oil production fell by 4.6 per cent and natural gas production dropped by 2.2 per cent in January due to operational difficulties related to the Covid pandemic, according to Ministry of Petroleum and Natural Gas data released on Friday. Total crude oil production in the fiscal, so far, is down 5.6 per cent and natural gas production is down 10.4 per cent, compared to the year-ago period.

Crude production in January was 8 per cent below the production target for the month at 2572.7 thousand metric tonnes (TMT) and 4.6 per cent lower than output of 2,696.8 TMT in the year-ago period. ONGC reported that unavailability of critical infrastructure and equipment due to Covid-related delays was the key reason behind lower production.

Natural gas production for the month was 2550.62 MMSCM (million metric standard cubic metre), 19.2 per cent below the output target for the month and 2.2 per cent below the production of 2,608.3 MMSCM, in January. Crude processing was 21,809 TMT, 0.6 per cent higher than production in January 2020 but 2.81 per cent below the monthly target.

Indian Express
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