Crude Oil Production

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India's crude oil production fell 3.8 per cent in July on lower output from fields operated by state-owned ONGC and private sector firms, government data released on Tuesday showed. Production of crude oil, which is refined to produce fuels such as petrol and diesel, fell to 2.45 million tonnes in July from 2.54 million tonnes a year back. The output was lower than the monthly target of 2.59 million tonnes, the data released by the Ministry of Petroleum and Natural Gas showed. Oil and Natural Gas Corporation (ONGC) produced 1.7 per cent less oil at 1.63 million tonnes on lower output from western offshore. Fields operated by private firms saw a 12.34 per cent decline in production. But the oil production during the first four months of the current fiscal that began on April 1 was only marginally lower at 9.91 million tonnes as opposed to 9.96 million tonnes during April-July 2021. Oil Minister Hardeep Singh Puri on August 4 tweeted that the declining trend in crude oil production

(Reuters) -Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.

Post windfall tax, the realised spread on diesel and gasoline has fallen to near loss-making levels while the realisation on aviation fuel and crude have also gone below 15-year averages

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Reversing the declining trend of the past few years, ONGC said its crude oil production will rise 11 per cent and natural gas output will jump 25%

Production declined every month for last 4-and-a-half years in core sector index; old fields among likely reasons

India's crude oil production fell 1 per cent in April after lower output from fields operated by the private sector wiped away gains by state-owned firms such as ONGC, official data showed Tuesday.

The average selling price for crude oil in April was 104.09 dollars per barrel, according to a ministry statement, citing statistics from the State Organization for Marketing of Oil

According to the brokerage house's estimates, the Centre has the financial capacity to take the hit on its own income statement without breaching the fiscal deficit targets

The sharp price hikes are tracking strong gains in Middle East benchmark Dubai last month which reached record levels as buyers faced limited options amid tight supplies

Brent crude topped $112 a barrel on Wednesday, the highest since 2014, shrugging off news that several developed countries plan to release a record 60 mn barrels of petroleum reserves to cool prices

The refiner had earlier planned to shut a crude unit at its 704,000 barrels per day (bpd) refinery for about three weeks in March, sources said. The refinery has two equal size crude units

With KG-D5 going live, oil production is estimated to rise to 24 million tonnes in 2023-24 and gas to rise to 32.16 bcm, said Anurag Sharma, director (onshore) and interim director (finance) of ONGC