MIXED OIL FIGURES FOR MAY
Poor electricity supplies in Gujarat and high water cut in Assam are being blamed for ONGCs lower than expected crude production figures for May 1999.
Crude production stood at 2.845m tonnes (Approx: 19.92m barrels) against a target of 2.862m tonnes (20.03m barrels). The figure is higher than the 2.829m tonnes (19.80m barrels ) produced in May 1998.
More encouraging are refinery figures showing refinery throughput in May at 6.24m tonnes (43.68m barrels) against 5.46m tonnes (38.28m barrels) last year. Total oil refinery output was up 17.4% after a 3% fall a year ago.
Output will go up further as Reliance Petroleum's giant Jamnagar refinery comes on stream later in the year.