India’s oil production continues to decline
The Hindu
Output dropped 2% in December
India’s production of crude oil, which is refined to produce petrol and diesel, continued to decline in December, with lower output from the State-owned ONGC leading to an almost 2% drop, official data showed on Wednesday.
Oil production in December was 2.51 million tonnes, down from 2.55 million tonnes a year earlier and a target of 2.6 million tonnes. The output was, however, higher than 2.43 million tonnes produced in November 2021.
ONGC, India’s biggest producer, produced 3% less crude oil at 1.65 million tonnes in December due to delays in mobilising equipment at western offshore fields. Oil India Ltd. (OIL) produced 5.4% more crude oil at 2,54,360 tonnes.
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