India’s production of crude oil, which is refined to produce petrol and diesel, continued to decline in December 2021, with lower output from state-owned ONGC leading to a near 2 per cent drop, official data showed on Wednesday.
Oil production in December 2021 was 2.51 million tonnes, down from 2.55 million tonnes a year earlier and a target of 2.6 million tonnes. The output was, however, higher than 2.43 million tonnes production in November 2021.
State-owned Oil and Natural Gas Corporation (ONGC) – India’s biggest producer, produced 3 per cent less crude oil at 1.65 million tonnes in December due to delays in mobilising equipment at western offshore fields. Oil India Ltd (OIL) produced 5.4 per cent more crude oil at 2,54,360 tonnes.
