Business News | India's Crude Oil Production Drops 0.95 Per Cent to 2469.67 TMT in April

New Delhi [India], May 24 (ANI): India's crude oil production fell by 0.95 per cent year-on-year to 2,469.67 thousand metric tonnes (TMT) in April due to lower output from fields operated by private firms, the government data showed on Tuesday.

However, the crude oil production in April is 3.47 per cent higher than the target for the month.

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Crude oil production by Oil and Natural Gas Corporation (ONGC) in nomination block during April 2022 was 1,650.65 TMT which is 4.93 per cent higher than the target and 0.86 per cent higher than the production during April 2021, according to data released by the Ministry of Petroleum & Natural Gas.

Crude oil production by Oil India Ltd (OIL) in the nomination block during April 2022 was 251.46 TMT which is 0.79 per cent lower than the target but 3.59 per cent higher than the production during April 2020.

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Reasons for shortfall in production included less than planned contribution from workover wells, drilling wells and old wells and bandhs /blockade by local people and associations, etc after the Baghjan Blowout, protests and agitation.

Crude oil production by private/joint venture companies in the PSC/RSC (Production Sharing Contract) regime during April 2022 was 567.57 TMT which is 1.28 per cent higher than the target but 7.55 per cent lower than the production during April 2021. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)