New Delhi: Output of Indian companies from overseas oil and gas fields has fallen 11 per cent so far this year on the natural decline in fields, production cuts by Russia and the UAE to meet OPEC plus supply reduction commitments, and pandemic-induced capex delays.
The output declined to 12.8 million metric tonnes of oil equivalent (mmtoe) during April-October this year from 14.4 mmtoe in the same period last year. India’s domestic production of oil and gas has also fallen 9 per cent in the same period.
