Crude oil output down 10%\, natural gas down 5% in July

Econom

Crude oil output down 10%, natural gas down 5% in July

Our Burea New Delhi | Updated on August 25, 2020 Published on August 25, 2020

Crude oil production during July 2020 stood at 2.63 million tonne, while natural gas production was at 2,443.31 million standard cubic meters. Crude Oil Processed during July 2020 stood at 17.68 million tonne, this is 18.81 per cent lower when compared with July 2019.

Compared to July 2019, domestic crude oil production was down 10.10 per cent per cent while natural gas output was down 4.89 per cent in July 2020.

According to an official statement, domestic crude oil production activities were mostly hit by Covid-19 restrictions and lockdowns. There was also restricted or no gas off take by consumers due to the pandemic situation and shutdown at consumers’ end that led to lower gas output.

There was lesser crude oil processed by refineries due to a lowered demand due to the lockdown and the ongoing monsoon soon.

Production of petroleum products during the month under review stood at 19.39 million tonne which is 13.85 per cent lower when compared with July 2019.

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Published on August 25, 2020