Friday, Aug 19 2022 | Time 07:21 Hrs(IST)
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Business Economy


India's crude oil output rises 4.60pc in May

New Delhi, June 17 (UNI) India's crude oil production rose 4.60 per cent year-on-year in May 2022 to 2,550.05 thousand metric tonnes as compared to 2,437.98 TMT in the corresponding period the previous year, data from the Petroleum Ministry on Friday showed.
At 1,693.69 TMT, state-run Oil and Natural Gas Corp (ONGC) logged a 9.01 per cent year-on-year increase in crude oil production during May 2022.
Oil India Ltd (OIL) produced 265.23 TMT of crude during the period under review. The monthly production of OIL was 4.01 per cent lower than the target of the month but 4.80 per cent higher when compared with production of May 2021.
The official data showed that crude oil production by private/joint venture (JV) companies stood at 591.14 TMT, which was 1.69 per cent lower than the target of the reporting month and 6.36 per cent lower than the production of May 2021.
Natural gas production during May 2022 was 2,913.65 million metric standard cubic meters (MMSCM), 5.06 per cent lower than the monthly target and 6.35 per cent higher than production of May 2021.
The monthly production figures showed ONGC's gas output in May 2022 was 1,741.33 MMSCM, which was 6.05 per cent higher than the production of May 2021.
"Natural gas production by OIL (Oil India Ltd) in the nomination block during May 2022 was 251.12 MMSCM which is 20.46 per cent lower than the target for the month of current year but 9.21 per cent higher than production of corresponding month of last year," said the Petroleum Ministry.
It further said that natural gas production by Pvt/JVs companies in the PSC/RSC/CBM regime during May 2022 was 921.20 MMSCM, 11.65 per cent lower than the target for the month but 6.17 per cent higher when compared the production of May 2021.
UNI NK MR
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