All-India crude production continues to drop

Vol 4, PW 7 (10 May 00) Exploration & Production
     

More bad news for domestic crude producers in India, particularly ONGC.

Figures released by the Ministry of Petroleum & Natural Gas show that all-India crude production in the last financial year from April 1999 to March 2000 dropped by 2.2% over the corresponding period last year, bringing it downfrom 32.723m tonnes to 32.005m tonnes. As the table below shows, the sharpest drop was in January this year when production dropped by 10.2% over the same period last year.

Much of the drop in production is down to ONGC. In a written response to parliament on 20th April, junior oil minister Etienne Ponnuswamy said ONGC's production for 1999-2000 had dropped to 24.706m tonnes from 28.250m the year before.

(All figures in thousand tonnes) Month 1998-1999 1999-2000 % Growth April 2614 2695 3.1 May 2829 2839 0.4 June 2775 2667 -3.9 July 2827 2766 -2.2 Aug 2652 2763 4.2 Sep 2523 2680 6.2 Oct 2706 2668 -1.4 Nov 2609 2551 -2.2 Dec 2854 2665 -6.6 Jan 2919 2621 -10.2 Feb 2597 2457 -5.4 March 2818 2633 -6.6 Apr-March 32,723 32,005 -2.2 (Source: Ministry of Petroleum & Natural Gas)