Crude Oil Production: Crude oil production declined to 24.7 lakh tonnes in April

Crude Oil Production: There has been a decline in the production of crude oil in the country in the month of April. Last month, crude oil production fell by 1 per cent to 2.47 million tonnes. Explain that the reason for this is the decrease in production from the oil fields of private companies. The Ministry of Petroleum and Natural Gas has given information about this by releasing the data.

Production decreased compared to last year
According to the data released by the Ministry of Petroleum and Natural Gas, the country produced 24.7 lakh tonnes of crude oil in the month of April. It was 2.5 million tonnes in the same month a year ago.

How much did ONGC produce?
Oil and Natural Gas Corporation (ONGC) produced 16.5 lakh tonnes of crude oil in April. This is about five percent more than the company’s set target. With this, it is 0.86 percent more than the production of 16.3 lakh tonnes in the same month last year.

Production down by 7.5%
Oil India Limited produced 3.6 percent more crude oil in the month under review. During this the company produced 2,51,460 tonnes of crude oil. On the other hand, production from oil fields of private sector companies declined by 7.5 per cent to 5,67,570 tonnes during this period.

Government focusing on production
The government is focusing on increasing domestic production of oil and gas to reduce dependence on imports. India imports 85 percent of its total crude oil requirement and about half of its natural gas.

released figures
According to the data, the production of natural gas in the month of April increased by 6.6 percent to 2.82 billion cubic meters. The main reason for this is the increase in production in the eastern offshore region. Reliance Industries and BP’s KG-D6 block is located in this area. On the other hand, ONGC’s natural gas production declined by one per cent to 1.72 billion cubic metre, while production in the eastern offshore sector jumped 43 percent to 600 million cubic metre. It is not mentioned in the figures that how much has been produced from which area.

Oil processing by refinery companies rose by 8.5 per cent to 21.6 million tonnes in April on the back of increased demand. Public sector oil refinery companies converted 12.8 percent more crude oil into fuel. At the same time, processing of private and joint sector units was higher by 1.8 percent.

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