India's crude oil output falls 3.4% in August as imports increase
24 Sep 2024
2 Min Read
CW Team
India's indigenous crude oil and condensate production experienced a decline of 3.4% in August 2024, amounting to a total of 2.4 million metric tonnes (MMT), as reported by the Petroleum Planning and Analysis Cell (PPAC). The state-run Oil India Limited (OIL) contributed 0.3 MMT, while the Oil and Natural Gas Corporation (ONGC) produced 1.6 MMT. Additionally, production under production sharing contracts/revenue sharing contracts (PSC/RSC) was recorded at 0.5 MMT.
During the same timeframe, the total crude oil processed nationwide reached 21.5 MMT, indicating a 1.9% decrease compared to August 2023. Public Sector Undertakings (PSUs) and Joint Ventures (JVs) processed 14.3 MMT, while private refiners handled 7.2 MMT of crude oil. The indigenous crude oil processed amounted to 1.9 MMT, with the remaining 19.6 MMT being imported.
Despite these monthly declines, there was an overall growth of 1.3% in total crude oil processed from April to August FY 2024-25 in comparison to the same period in the previous fiscal year.
In terms of petroleum product outputs, production in August 2024 saw a 1% decrease, totalling 22.7 MMT. Refineries produced 22.4 MMT, while fractionators accounted for the remaining 0.3 MMT. However, from April to August FY 2024-25, petroleum product production increased by 1.8% compared to the previous year.
Regarding petroleum product trade, crude oil imports rose by 6.4% in August 2024 and by 3.3% from April to August FY 2024-25. Conversely, POL product imports decreased by 1.4% in August but increased by 8.6% over the first five months of the fiscal year, primarily due to higher imports of LPG, petcoke, and lubricants/oil base stocks (LOBS).
Exports of POL products saw a notable decline, dropping by 13.7% in August 2024 and by 2.8% from April to August FY 2024-25. This decrease was largely attributed to reduced exports of high-speed diesel (HSD), vacuum gas oil (VGO), and motor spirit (MS).
India's indigenous crude oil and condensate production experienced a decline of 3.4% in August 2024, amounting to a total of 2.4 million metric tonnes (MMT), as reported by the Petroleum Planning and Analysis Cell (PPAC). The state-run Oil India Limited (OIL) contributed 0.3 MMT, while the Oil and Natural Gas Corporation (ONGC) produced 1.6 MMT. Additionally, production under production sharing contracts/revenue sharing contracts (PSC/RSC) was recorded at 0.5 MMT.
During the same timeframe, the total crude oil processed nationwide reached 21.5 MMT, indicating a 1.9% decrease compared to August 2023. Public Sector Undertakings (PSUs) and Joint Ventures (JVs) processed 14.3 MMT, while private refiners handled 7.2 MMT of crude oil. The indigenous crude oil processed amounted to 1.9 MMT, with the remaining 19.6 MMT being imported.
Despite these monthly declines, there was an overall growth of 1.3% in total crude oil processed from April to August FY 2024-25 in comparison to the same period in the previous fiscal year.
In terms of petroleum product outputs, production in August 2024 saw a 1% decrease, totalling 22.7 MMT. Refineries produced 22.4 MMT, while fractionators accounted for the remaining 0.3 MMT. However, from April to August FY 2024-25, petroleum product production increased by 1.8% compared to the previous year.
Regarding petroleum product trade, crude oil imports rose by 6.4% in August 2024 and by 3.3% from April to August FY 2024-25. Conversely, POL product imports decreased by 1.4% in August but increased by 8.6% over the first five months of the fiscal year, primarily due to higher imports of LPG, petcoke, and lubricants/oil base stocks (LOBS).
Exports of POL products saw a notable decline, dropping by 13.7% in August 2024 and by 2.8% from April to August FY 2024-25. This decrease was largely attributed to reduced exports of high-speed diesel (HSD), vacuum gas oil (VGO), and motor spirit (MS).
Next Story
Mumbai-Ahmedabad Bullet Train Set to Launch by 2028
India鈥檚 first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India鈥檚 infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..
Next Story
Mumbai-Gandhinagar Train Service Enhances Passenger Capacity
The Mumbai Central鈥揋andhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India鈥檚 busiest business corridors. This upgrade, effective from 11 May, raised the train鈥檚 seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai鈥揂hmedabad鈥揋andhinagar route, which regularly operates at over 150 percent seat occupancy...
Next Story
Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently
Delhi鈥檚 ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river鈥檚 health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..
