Crude output down 4.5% in June; pvt firms see sharp decline

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India's crude oil production fell 4.5 percent in June following a sharp drop in output at fields operated by private firms.

Crude oil production at 2.96 million tons in June was lower than 3.1 MT produced in the same month last year, an official statement said here.

While state-owned Oil and Natural Gas Corp produced 2.75 percent less crude oil at 1.85 MT, fields operated by private companies saw output drop by almost 8 percent to 975,890 tons.

Crude oil production at private fields was lower because of natural decline at Cairn India-operated Mangala oilfield in Rajasthan and BG-operated Panna/Mukta fields while under- performance of Bhagyam oilfield well in Cairn's RJ-ON-90/1 block in Rajasthan. Also, Reliance Industries' KG-D6 well under-performed due to sand ingress and water loading.

Crude oil production in the first quarter, April-June, of the current financial year was 3.3 percent lower at 9 MT.

Natural gas production dipped 4.5 percent to 2.59 billion cubic meters on back of drop in output from private firm operated fields like KG-D6 of RIL.

During the quarter, natural gas output dipped over 6 percent to 7.7 bcm, the statement said.

Refineries produced 3.51 percent more fuel at 20.16 million tons in June and about 1 percent higher in April- June at 60.27 MT.