August 15, 2020

Home crude oil manufacturing contracts 6% in June



New Delhi: Home crude oil manufacturing contracted 6% and pure gasoline output fell 12% in June from a 12 months earlier.

Crude oil manufacturing fell to 2,527 thousand metric tonnes in June because the Coronavirus pandemic compounded issues for India’s ageing fields whose output have been declining for years. Decline in output from fields operated by ONGC was simply 1% whereas for the fields operated by Oil India and the non-public sector was nearly 10% and 16%, respectively.

Underperformance of wells, delayed oilfield enhancement plans and common disruption attributable to the pandemic contributed to a decline in oil manufacturing.

Pure gasoline output fell to 2,324 million metric normal cubic meters totally on decrease offtake by prospects. ONGC’s gasoline output fell 9% whereas non-public sector’s manufacturing fell 29% in June over the 12 months.

Refineries processed 13.6% much less crude in June from a 12 months earlier. State-run refiners processed 9.2% much less crude than final 12 months whereas non-public refiners processed 16% much less crude.