India's crude oil production falls 3.37 per cent in March

India's crude oil production in March 2022 fell to 2,526.11 thousand metric tonnes (TMT), which is 12.49 per cent lower than the target for the month and 3.37 per cent lower than the output recorded during the same month in 2021, the government data showed on Wednesday.

Cumulative crude oil production during April-March, 2021-22 stood at 29,690.78 TMT, which is 11.67 per cent and 2.63 per cent lower than target for the period and production during the corresponding period of the last year, respectively, according to data released by the Ministry of Petroleum & Natural Gas.

Crude oil production by Oil and Natural Gas Corporation (ONGC) in nomination block during March 2022 was 1,681.60 TMT, which is 12.62 per cent lower than the target of the month and 1.84 per cent lower when compared with production of March 2021.

Cumulative crude oil production by ONGC during April-March, 2021-22 was 19,451.23 TMT, which is 13.82 per cent and 3.62 per cent lower than the target for the period and production during the corresponding period of last year respectively.

According to the ministry, reasons for shortfall in ONGC crude oil production include less than anticipated production from WO-16 cluster due to delay in mobilisation of MOPU Sagar Samrat; less oil production in NBP field due to shutdown taken for mandatory inspections of FPSO for class certification and less condensate receipt at Hazira due to less gas production from B&S Asset.

Crude oil production by Oil India Ltd (OIL) in the nomination block during March 2022 was 257.43 TMT, which is 3.13 per cent higher when compared with production of March 2021 but 17.34 per cent lower than target of the month.

Cumulative crude oil production by OIL during April-March 2021-22 was 2986.84 TMT, which is 1.68 per cent higher than the production during the corresponding period of last year but 10.17 per cent lower than the target for the period.

Crude oil production by Pvt/JVs companies in the PSC/RSC regime during March 2022 was 587.07 TMT, which is 9.78 per cent lower than the target of the reporting month and 9.88 per cent lower than the production of March 2021.

Cumulative crude oil production by Pvt/JVs companies during April-March 2021-22 was 7252.71 TMT, which is 6.03 per cent and 1.64 per cent lower than the target for the period and production during the corresponding period of last year, respectively.

( With inputs from ANI )