India’s natural gas production falls 4% in August 2019

India’s natural gas production in August declined by 4 per cent to 2,688 Million Standard Cubic Meter (MMSCM) due to drop in fields operated by Oil and Natural Gas Corporation (ONGC), Oil India and Joint Ventures (JVs).

Cumulatively, the country’s natural gas production in the first five months (April-August) of the current financial year (2019-2020) declined by a marginal 0.98 per cent to 13,437 MMSCM, primarily due to drop in production from fields operated by Joint Ventures (JVs) or under Production Sharing Contracts (PSC).

ONGC, the country’s largest producer of crude oil and natural gas posted a 3 per cent decline in natural gas production to 2,007 MMSCM in August. Cumulatively, the company’s gas production in the first five months declined 3.53 per cent to 10,158 MMSCM.

Oil India, another state-owned oil and gas explorer, posted a marginal decline in gas production to 237 MMSCM in August due to decline in production from fields in Assam. Cumulatively, the company’s output in the first five months rose 1.34 per cent to 1,153 MMSCM.

Gas production from fields operated by Joint Ventures or those under PSCs slumped 9.46 per cent to 444 MMSCM in August. Cumulatively, natural gas production in the first five months of the current financial year from fields under PSC dropped 12 per cent to 2,126 MMSCM.

Shekhar Ghosh is consulting editor, Indoasiancommodities.com. He has edited and written for publications like Business India, Business Standard, Business Today, Outlook and many other international publications. He can be reached at shekhar.ghosh@indoasiancommodities.in.

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