India's crude oil production drops 2.19 per cent in February

New Delhi: India`s crude oil production dropped to 2272.26 thousand metric tonnes (TMT) in February, which is 2.19 per cent lower when compared with the corresponding period of the previous year and 5.6 per cent short of the official target, the government data showed on Wednesday.

Cumulative crude oil production during April-February 2021-22 stood at 27,162.3 TMT, which is 4.71 per cent lower than the target and 2.57 per cent lower than the production during the corresponding period of last year, according to data released by the Ministry of Petroleum & Natural Gas.

Crude oil production by Oil and Natural Gas Corporation (ONGC) in the nomination block during February 2022 was 1510.52 TMT, which is 2.92 per cent lower than the target of the month and 2.22 per cent lower when compared with production of February 2021.

Crude oil production by Oil India Ltd in the nomination block during February 2022 was 230.25 TMT, which is 5.38 per cent higher when compared with production of February 2021 but 10.97 per cent lower than target of the month. 

Crude oil production by private/joint venture companies in the PSC/RSC regime during February 2022 was 531.49 TMT, which is 10.29 per cent lower than the target of the reporting month and 5.06 per cent lower than the production of February 2021.