India’s crude oil production fell 2.15 per cent in October as state-owned corporations produced much less however, pure gas output rose by 1 / 4 on the again of output from KG-D6 fields of Reliance-BP, authorities knowledge launched on Tuesday confirmed.
Crude oil production dropped to 2.51 million tonnes in October, as output from fields operated by Oil and Natural Gas Corp (ONGC) and Oil India Ltd (OIL) dipped.
While ONGC produced 4 per cent much less crude oil at 1.64 million tonnes, OIL output dropped 1.46 per cent to 2,53,000 tonnes.
India is 85 per cent depending on imports to fulfill its oil wants and the federal government has been for lengthy methods to lift the home output in order to cut back import dependence.
Crude oil is transformed into fuels akin to petrol and diesel in refineries.
Production of pure gas, which is used to fireplace energy crops, run fertiliser models and convert into CNG to cars, rose 24.7 per cent to three.01 billion cubic metres in October.
This is as a result of the output from fields operated by personal corporations jumped 203.6 per cent.
ONGC, the nation’s largest oil and gas producer, produced 4.4 per cent much less gas at 1.8 bcm.
As gasoline demand rebounded, oil refineries processed extra crude oil in October. At 21 million tonnes, crude processing in October was 14 per cent greater than the year-ago interval.
The crude thruput has been on the rise in the previous few months, because the easing of coronavirus restrictions boosted financial exercise and fed demand for gasoline.
Public sector refineries processed 8.5 per cent extra crude at 11.7 million tonnes, whereas personal refiner Reliance Industries turned 5.3 per cent extra crude into gasoline.
Refineries produced 14.4 per cent extra petroleum merchandise in October at 21.6 million tonnes and 12 per cent extra in April-October at 141 million tonnes.
Overall, the refineries operated at 98.76 per cent of their put in capability, in opposition to 86.66 per cent capability utilisation in October 2020.
(Only the headline and film of this report could have been reworked by the Business Standard workers; the remainder of the content material is auto-generated from a syndicated feed.)