OIL & GAS

Eight core industries including coal, oil & gas and electricity`s output contracts 23.4 pc in May

The output of eight core infrastructure industries shrank by 23.4 per cent in May due to the coronavirus-induced lockdown, according to the official data. The eight core sectors had expanded by 3.8 per cent in May 2019, the data released by the Commerce and Industry Ministry on Tuesday showed.

Barring fertiliser, all seven sectors – coal, crude oil, natural gas, refinery products, steel, cement, and electricity – had recorded negative growth in May.

During April-May 2020-21, the sectors output dipped by 30 per cent as compared to 4.5 per cent in the same period previous year.

Source
ET Energy World
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