India’s crude output falls 2.67 per cent in 2021-22 fiscal year

NEW DELHI: India’s crude oil production fell 2.67% in the fiscal year ending March 31, according to the data released by the petroleum ministry on Wednesday. The reason for lower output is state-owned Oil and Natural Gas Corporation (ONGC) produced less than the target.

Overall crude oil production at 29.69 million tonnes in 2021-22 (April 2020 to March 2022) was 2.63% lower than the 30.5 million tonnes output a year back and 11.67% below the target of 33.61 million tonnes.