India's Crude Oil Production Falls, Processing and Imports Rise in May-24
OIL & GAS

India's Crude Oil Production Falls, Processing and Imports Rise in May-24

India's indigenous crude oil and condensate production fell by 1.1 percent in May 2024, amounting to 2.5 million metric tonnes (MMT), as reported by the Petroleum Planning and Analysis Cell (PPAC). Oil India (OIL) contributed 0.3 MMT, the Oil and Natural Gas Corporation (ONGC) produced 1.6 MMT, and Production Sharing Contracts/Revenue Sharing Contracts (PSC/RSC) provided 0.6 MMT.

Meanwhile, the total crude oil processed during the same month increased by 1.3 percent compared to May 2023, reaching 23.0 MMT. This processing capacity included 15.7 MMT by Public Sector Units (PSU) and Joint Venture (JV) refiners, and 7.3 MMT by private refiners. The data indicated that the processed crude comprised 2.3 MMT of indigenous and 20.7 MMT of imported crude oil.

Additionally, petroleum product production experienced a slight increase of 0.5 percent in May 2024, totaling 24.0 MMT. This growth was mainly due to refinery outputs of 23.7 MMT and a fractionator contribution of 0.3 MMT. Notably, petroleum product production saw a 2.2 percent increase during the April-May FY 2024-25 period compared to the same period in the previous fiscal year. The production breakdown included significant shares of High-Speed Diesel (HSD) at 41.6 percent and Motor Spirit (MS) at 17.2 percent.

International trade figures revealed a 5.7 percent rise in crude oil imports in May 2024, with a 6.0 percent increase during the April-May FY 2024-25 period. However, imports of Petroleum Oil and Lubricants (POL) products decreased by 8.2 percent in May 2024 but increased by 7.1 percent during the April-May period, driven by higher imports of LPG and petcoke. Exports of POL products declined by 0.9 percent in May 2024 but rose by 3.6 percent in the April-May FY 2024-25, bolstered by higher exports of aviation turbine fuel (ATF) and fuel oil.

India's indigenous crude oil and condensate production fell by 1.1 percent in May 2024, amounting to 2.5 million metric tonnes (MMT), as reported by the Petroleum Planning and Analysis Cell (PPAC). Oil India (OIL) contributed 0.3 MMT, the Oil and Natural Gas Corporation (ONGC) produced 1.6 MMT, and Production Sharing Contracts/Revenue Sharing Contracts (PSC/RSC) provided 0.6 MMT. Meanwhile, the total crude oil processed during the same month increased by 1.3 percent compared to May 2023, reaching 23.0 MMT. This processing capacity included 15.7 MMT by Public Sector Units (PSU) and Joint Venture (JV) refiners, and 7.3 MMT by private refiners. The data indicated that the processed crude comprised 2.3 MMT of indigenous and 20.7 MMT of imported crude oil. Additionally, petroleum product production experienced a slight increase of 0.5 percent in May 2024, totaling 24.0 MMT. This growth was mainly due to refinery outputs of 23.7 MMT and a fractionator contribution of 0.3 MMT. Notably, petroleum product production saw a 2.2 percent increase during the April-May FY 2024-25 period compared to the same period in the previous fiscal year. The production breakdown included significant shares of High-Speed Diesel (HSD) at 41.6 percent and Motor Spirit (MS) at 17.2 percent. International trade figures revealed a 5.7 percent rise in crude oil imports in May 2024, with a 6.0 percent increase during the April-May FY 2024-25 period. However, imports of Petroleum Oil and Lubricants (POL) products decreased by 8.2 percent in May 2024 but increased by 7.1 percent during the April-May period, driven by higher imports of LPG and petcoke. Exports of POL products declined by 0.9 percent in May 2024 but rose by 3.6 percent in the April-May FY 2024-25, bolstered by higher exports of aviation turbine fuel (ATF) and fuel oil.

Next Story
Infrastructure Urban

World-class sports complex in Tirupati soon

A new world-class sports complex will soon be developed in Tirupati, following a meeting between Animeni Ravi Naidu, Chairman of the Sports Authority of Andhra Pradesh (SAAP), G Narasimha Yadav, TDP Parliamentary President of Tirupati, and District Collector Dr. S Venkateswar. The new sports policy, recently approved by Chief Minister Nara Chandrababu Naidu, aims to elevate the standards of sports infrastructure in the region. During the meeting, the team discussed various components of the sports policy and highlighted plans to enhance Tirupati’s sports landscape. A key focus was the propo..

Next Story
Infrastructure Urban

Centre sets up five working groups to transform city management

The Union Ministry of Housing and Urban Affairs (MoHUA) has established five working groups to recommend reforms aimed at transforming urban governance across India. The groups will focus on areas such as political and administrative reforms, redefining the role of parastatals, rural-urban continuity, and enhancing local capacity building. These working groups will examine key issues like enhancing accountability among elected officials in project execution, the direct election of mayors, and the creation of participatory budgeting processes. The groups will submit their findings within three ..

Next Story
Infrastructure Transport

US Nagar highway to be realigned for Pantnagar airport expansion

A major highway realignment project has been announced in Udham Singh Nagar to facilitate the expansion of Pantnagar International Airport. The National Highway (NH) 109 will be relocated by 7 km behind the airport to accommodate the airport’s expansion plans. Vikas Mittal, Project Director at the National Highways Authority of India (NHAI), confirmed that a detailed project report (DPR) for the realignment is being prepared and will be submitted by December 22. The realigned stretch will curve near the Anandi Mata Temple, follow the railway line, and reconnect with the main highway near Sa..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000