India's crude oil production rises 4.6 per cent in May

New Delhi [India], June 17 (ANI): Crude oil production in India rose by 4.6 per cent year-on-year to 2550.05 thousand metric tonnes (TMT) in May helped by a sharp jump in the production by Oil and Natural Gas Corporation (ONGC), the government data showed on Friday.

Crude oil production during May 2022 was 2.44 per cent higher than the target for the month and 4.60 per cent higher than the production of May 2021.

Cumulative crude oil production during April-May, 2022 stood at 5019.72 TMT, which is 2.86 per cent and 1.79 per cent higher than the target for the period and production during the corresponding period of last year respectively, according to data released by the Ministry of Petroleum & Natural Gas.

Crude oil production by ONGC in the nomination block during May 2022 was 1693.69 TMT, which is 5.09 per cent higher than target of the month and 9.01 per cent higher when compared with production of May 2021.

Cumulative crude oil production by ONGC during April-May, 2022 was 3344.34 TMT, which is 5.01 per cent and 4.83 per cent lower than target for the period and production during the corresponding period of last year respectively.

Crude oil production by Oil India Ltd (OIL) in the nomination block during May 2022 was 265.23 TMT, which is 4.01 per cent lower than the target of the month but 4.80 per cent higher when compared with production of May 2021.

Cumulative crude oil production by OIL during April-May 2022 was 516.68 TMT, which is 2.47 per cent lower than target for the period but 4.21 per cent higher when compared to production during the corresponding period of last year.

Crude oil production by private and joint venture companies in the PSC/RSC regime during May 2022 was 591.14 TMT, which is 1.69 per cent lower than the target of the reporting month and 6.36 per cent lower than the monthly production of May 2021.

Cumulative crude oil production by Pvt/JVs companies during April-May 2022 was 1158.70 TMT, which is 0.58 per cent and 6.95 per cent lower than the target for the period and production during the corresponding period of last year respectively. (ANI)

Source: BUSINESS