Crude output 5.6 per cent lower than target in July

NEW DELHI: India’s crude oil production in July 2022 at 2,453.19 thousand metric tonnes (TMT) is 5.57 per cent lower than the target set for the month and 3.76 per cent lower than the production of July 2021.

As per the petroleum ministry data, cumulative crude oil production during April-July 2022 was 9,912.42 TMT, which is 2.17 per cent lower than the target set for the period and 0.50 per cent lower than production during the corresponding period of last year.

ONGC produced 1,636.56 TMT, which is 3.36 per cent lower than the target of the month and 1.70 per cent lower when compared with production of July 2021.

The reason for the company’s lower output is the natural decline in production from Gandhar in Ankleshwar, ceasure of high potential wells in Geleki field in Assam, the closure of wells due to DAB issues and others. The cumulative crude oil production by ONGC during April-July was 6,606.19 TMT, 1.12 per cent lower than the target.