Nov crude oil output rises marginally

New Delhi: Marginal decline in supplies from the country’s offshore oil fields saw the crude oil output in November remain near flat. The crude oil production in November rose to 2.82 million tonnes or 56,000 barrels a day (2.81 mt same month previous year), according to data released by the Petroleum Ministry. The natural gas output during the month was up 3.3 per cent at 2.76 billion cubic metre (2.67 BCM corresponding month last year).

Crude output at ONGC’s Mumbai High fields fell 0.5 per cent to 1.49 mt in November. The fields account for more than half of the country’s annual oil production. Oil India Ltd (OIL) crude output was up by 4.5 per cent to 255,000 tonnes in November. Crude oil production by private exploration companies such as Cairn Energy Plc fell 4.7 per cent to 403,000 tonnes in November, according to the data.

During the month under review, the oil refiners processed 12.97 mt crude oil, up 5.2 per cent from the corresponding month last year. Refining was 2.3 per cent higher than 12.68 mt crude processed in October. Capacity utilisation by the refiners in November was 106.2 per cent compared with 113.3 per cent in the same month last year, the data showed. The year-on-year increase in refinery output was mainly due to commissioning of Essar Oil’s Vadinar refinery and expansion of Indian Oil Corporation Ltd’s Panipat refinery to 12 mt in January. Though Vadinar refinery was commissioned in November last year, it started production only in December.