Crude output dips 6.1% in FY21, gas hit harder

Domestic crude oil production fell by 6.1% during FY21 (April-July). India imported 419 million barrels of crude during FY21 (April-July) compared to 549 mb in FY20 (April-July), a fall of 23.7%. Domestic oil consumption saw a decline of 21.4% y-o-y.

Domestic natural gas production declined sharply by 14.2% over the period. Imports of natural gas in the form of LNG fell by 7.7% while consumption of natural gas was down 11.1% on a y-o-y basis.