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Oil sector reports negative growth for December 2018

ANI | Updated: Jan 24, 2019 13:00 IST

New Delhi, Jan 24 (ANI): Crude oil production during December 2018 dropped 10.13 per cent below the target at 2,862.35 thousand metric tonnes (TMT) and 4.3 per cent lower in the year-on period, the government said on Thursday.
Cumulative crude oil production during April to December last year was 25,937.54 TMT, down 5.83 per cent of the target and 3.7 per cent lower than production during corresponding period of last year, according to a press release issued by the Ministry of Petroleum and Natural Gas.
Crude oil production by ONGC was 1,761.22 TMT, down 11.85 per cent than the monthly target and 5.42 per cent when compared with December 2017. Cumulative crude oil production by ONGC during April to December was 15,908.11 TMT which is 6.93 per cent lower than target and down by 5.58 per cent than production during corresponding period of last year.
Crude oil production by OIL during was 274.96 TMT which is 16.45 per cent lower than monthly target and 4.66 per cent lower when compared with December 2017. Cumulative crude oil production by OIL during April to December 2018 was 2,516.59 TMT which is 8.83 per cent lower than target and 1.27 per cent lower than production during the corresponding period of last year.
On the other hand, natural gas production was 2,866.51 million metric standard cubic meters (MMSCM) which is 4.86 per cent lower than the target for the month but 4.19 per cent higher when compared with December, 2017. Cumulative natural gas production during April to December 2018 was 24 650.25 MMSCM which is 7.26 per cent lower than target for the period and marginally 0.15 per cent lower than the production during corresponding period of last year.
Refinery production was 21,031.92 TMT which is 4.32 per cent lower than the target and 4.96 per cent lower when compared with December 2017. Cumulative production during April to December 2018 was 192,681.14 TMT which is one per cent higher than the target for the period and 2.51 per cent higher than the production during corresponding period of last year. (ANI)

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