India’s crude production continues to fall in March

India’s crude oil production fell 5.09 percent year on year in March to 3062.36 TMT, which was 4.79 percent lower than the target for the month, a government statement said,

It said cumulative crude oil production during April 2015-March 2016 was 36,949.99 TMT which is 0.26 percent lower than target for the period and 1.36 percent lower than the production during corresponding period of last year.

ONGC’s crude oil production during March, 2016 was 1870.06 TMT which is 6.04 percent lower than the target for the month and 4.04 percent lower than the production achieved in the corresponding month of last year, the statement said, adding that its cumulative production during April 2015-March 2016 was 22367.94 TMT, 1.60 percent lower than the cumulative target and 0.47 percent higher than the production during the corresponding period of last year.

 OIL’s crude oil production during March was 268.85 TMT which is 15 percent lower than the target for the month and 7.05 percent lower than the production achieved in the corresponding month of last year. OIL’s cumulative production during April 2015-March 2016 was 3,226.04 TMT, 10.26 percent lower than the cumulative target and 5.45 percent lower than the production during the corresponding period of last year.

Crude oil production by private firms and joint ventures during March stood at 923.45 TMT, 1.50 percent higher than the target for the month and 6.60 percent lower than production of corresponding month of last year. Their cumulative production during April 2015-March 2016 was 11,356.01 TMT which was 5.95 percent higher than the cumulative target and 3.64 percent lower than the production during the corresponding period of last year.

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