Crude oil production dips 2.5% in FY2017, in addition to 1.7% fall in FY2016
India's crude oil production rose 0.9% to 3.09 million tonnes (mt) in March 2017 over March 2016. Crude oil output of ONGC increased 3.3% to 1.93 mt, while that of Oil India also improved 9.1% to 0.29 mt. ONGC's offshore output moved up 3.6% to 1.41 mt, while onshore production rose 2.6% to 0.52 mt. However, the crude oil production of private and joint venture (JV) companies dipped 6.2% to 0.87 mt in March 2017.Crude oil output fell 2.5% to 36.01 mt in April-March FY2017, in addition to 1.4% fall recorded in FY2016. Output of ONGC declined 0.6% to 22.22 mt, while private companies fell -7.3% to 10.53 mt. the crude oil output of Oil India rose 1.0% to 3.26 mt in FY2017 over FY2016.
Powered by Capital Market - Live News