In July 2024, India’s production of crude oil and condensates fell by 2.9%, totalling 2.4 million metric tons (MMT), according to the Petroleum Planning and Analysis Cell (PPAC). The decrease is compared to the production figures from July 2023.
Oil and Natural Gas Corporation (ONGC) led the production with 1.6 MMT, followed by Oil India Limited (OIL) at 0.3 MMT, and Production Sharing Contracts/Revenue Sharing Contracts (PSC/RSC) contributing 0.5 MMT.
Conversely, crude oil processing in the country rose by 3.2% in July 2024, reaching 22.6 MMT compared to the same month last year. Public sector undertakings (PSUs) and joint venture (JV) refiners processed 15.3 MMT, while private refiners handled 7.3 MMT. Of the total processed crude, 2.1 MMT was domestic, with 20.5 MMT imported.
Petroleum product production saw a notable increase of 7.1%, rising to 24.4 MMT in July 2024 compared to July 2023. Refinery output contributed 24.1 MMT, while fractionators added 0.3 MMT.
As reported by ETEnergyworld.com, on the export front, petroleum product exports dropped by 4.3% in July 2024. However, there was a modest increase of 0.4% in exports during the April-July period, largely due to higher shipments of petcoke, carbon black feedstock (CBFS), and fuel oil.
