OIL & GAS

India’s natural gas production falls 14% in March as demand dries up, 2019-2020 production lowest in 18 years

The ongoing Covid-19 pandemic has dented the demand of petroleum products in India and also reduced the demand for natural gas, forcing Exploration and Production (E&P) companies to scale down production in March 2020, fresh data sourced from the Petroleum Ministry showed.

India’s production of natural gas in March declined 14 per cent to 2,411 Million Standard Cubic Meter (MMSCM), as compared to the corresponding month a year ago.

According to a report by the oil ministry natural gas production by Indian E&P players had been impacted in March on account of decreased production in response to less off take by gas power plants, fertilizer plants, industrial customers as well as operational issues faced by E&P companies.

The country’s natural gas production during 2019-2020 declined 5 per cent to 31,180 MMSCM, the lowest recorded output in at least 18 years, an analysis of historic data by ETEnergyWorld showed.

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