Oil & Gas

Natural Gas, Crude Oil Production Falls in February

The domestic production of both natural gas and crude oil fell in February on a year-on-year basis.

Natural gas production in the country fell 8.1 per cent for the month of February 2015 while crude oil production fell 1.9 per cent, according to the data released by the Ministry for Petroleum and Natural Gas.

The drop in natural gas production was impacted due to 8.7 per cent fall in production from offshore fields. Natural gas production from offshore fields was 1.863-billion cubic metre in February 2015 as against 2.039- billion cubic metre in the same month last year. Production from onshore fields fell by 6.3 per cent in February 2015 to 0.671-billion cubic metre.

According to the data, the drop in crude oil production was primarily because of a 6.7 per cent drop from onshore fields. Production from Cairn’s Barmer block dropped 5.5 per cent year-on-year while ONGC’s onshore production fell 10.9 per cent year-on-year.

However, the growth in ONGC’s offshore oil production of 6.3 per cent year-on-year helped curtail the fall in overall domestic oil production.

Meanwhile, refinery throughput in the country fell 1 per cent year-on-year in February. Total crude throughput at refineries in January was at 17.586 million tonne up from 17.760 million tonne in the same month last year.
Source: The Hindu Business Line

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