OIL & GAS

India’s crude output slips 6.3% in May, gas production jumps

India’s crude oil output fell 6.3% in May after state-owned ONGC produced nearly a tenth less due to cyclone ‘Tauktae’, government data showed on Tuesday.

Crude oil production at 2.43 million tonne in May was 6.32% lower than 2.6 million tonne output in the same month last year, according to the latest data released by Ministry of Petroleum and Natural Gas.

Oil and Natural Gas Corporation (ONGC), the nation’s biggest producer, reported a massive 9.63% drop in output at 1.5 million tonne “due to conditions created by cyclone Tauktae”, it said.

Severe cyclone Tauktae slammed the western coast last month disrupting economic activity. ONGC’s main oil and gas producing fields are in western offshore.

ONGC also produced over 9% less natural gas but ramping up of output from the KG-D6 block of Reliance Industries Ltd and BP helped lift overall production.

The nation’s gas production rose 19% to 2.74 billion cubic meters on the back of a 10 times rise in output from eastern offshore, where the KG-D6 block is situated.

Reliance-BP has put into production the second wave of discoveries in the KG-D6 block, helping raise overall output.

Source
Livemint
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