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      Crude oil, oil refinery and natural gas production declines in April 2012

      MoM Team / Mumbai, May 28, 2012 04:06 PM IST

        India's crude oil production dipped 1.3% to 3.142 million tonnes (mt) in April 2012, as the crude oil output of ONGC declined 4.7% to 1.875 mt. ONGC's Mumbai high offshore output fell 3.6% to 1.298 mt, while onshore product also plunged 7.2% to 0.577 mt. The crude oil production of Oil India fell 0.3% to 0.316 mt in April 2012. The output of private/JV companies increased 5.7% to 0.953 mt in April 2012. The crude oil output has increased 1.0% to 38.087 mt during FY2012, compared to 11.9% growth recorded in FY2011.

        India's crude oil refinery output for nine refineries together declined 2.8% to 13.61 mt in April 2012 against 6.6% growth in April 2011. The output of PSU refiners declined 7.7% to 9.185 mt, as Indian Oil recorded 4.7% dip in output to 4.551 mt during April 2012. The production of BPCL increased 12.7% to 1.965 mt, but that of HPCL plunged 17.0% to 1.041 mt. Further, the output of Mangalore Refineries dipped 23.0% to 0.767 mt, while that of Chennai Petroleum also declined 20.0% to 0.767 mt in April 2012. Among private refiners, the output of Reliance Petroleum increased 4.9% to 3.00 mt, while the output of Essar Oil surged 19.2% to 1.427 mt in April 2012.

        The cumulative refinery output has increased 3.2% to 170.15 mt during FY2012, compared to 3.0% growth recorded in FY2011.

        India's natural gas production dipped 11.3% to 3.633 billion cubic meters (bcm) in April 2012, recording fall for the seventeenth sequential month. The output of ONGC increased 5.3% to 1.97 bcm, but that of Oil India declined 6.8% to 0.201 bcm in April 2012. Further, the output of private/JV companies also plunged 27.3% to 1.462 bcm in April 2012. The cumulative gas production has dipped 8.9% to 47.55 bcm in FY2012, compared to 10.0% growth recorded in FY2011.

         


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      Source: Capital Market


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