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India's Oil Output Tumbled

India's oil production witnessed a marginal dip of 3.6 percent

India's oil production witnessed a marginal dip of 3.6 percent in July to 2.86 million tonnes due to weather turbulence and operation problems in Bombay High and repeated blockades in Assam, the petroleum ministry stated Tuesday.

The oil production target for July had been set at 2.97 million tonnes, latest oil and gas production data released by the ministry showed.

Gas production on the other hand witnessed an increase of 4.1 percent to 2.76 billion cubic metres in July as against a target of 2.65 billion cubic metres.

Overall, during the four-month period from April to July, there was 4.9 percent increase in gas production in the country with a total of 10.86 billion cubic metres as against the target of 10.35 billion cubic metres.

In the case of oil, the four-month output of 11.31 million tonnes was 1.2 percent below the target of 1.44 million tonnes but it was 1.2 percent more than the production in the corresponding period last year.

Depending on imports for over 70 percent of the demand, India has set a target of producing over 32 million tonnes of oil for the current fiscal.