Decline in Crude Oil Production

Decline in Crude Oil ProductionIndia's Crude oil production continued to decrease in November with its production falling by 1.5 per cent as compared to previous year, while the domestic natural gas production remained on a high registering a 47.6 percent increase.

Reliance Industries Ltd D6 block in Krishna Godavari Basin, which started production from April this year, is backing up the natural gas production output, increasing almost 48 per cent to 4.06 billion cubic meters, according to the data.

ONGC's Mumbai High fields in the Arabian Sea accounts for half of India's annual oil production. The output registered a fall of 5.3 per cent to 1.421 million tons causing a severe decline in domestic crude production.

In accordance to the data during the month the domestic refiners processed 4.9 per cent more crude oil at 13.45 million tons (3.286 million barrels per day).

Effective average capacity utilization and increased crude processing by various refineries like the Indian Oil Corporation has resulted in a refinery throughput.

Refineries of Hindustan Petroleum Corporation, Bharat Petroleum Corporation, CPCL and Reliance Industries have exceeded their targets.