Key Points
India produced a total of 2.5 million metric tonnes (MMT) of crude oil in January 2024 - registering a growth of 0.7 per cent compared to the year-ago period, according to Petroleum Planning & Analysis Cell (PPAC)..
Out of 2.5 MMT, Oil and Natural Gas Corporation (ONGC) produced 1.6 MMT of crude oil while Oil India Limited (OIL) and and private sector producers contributed 0.3 MMT and 0.6 MMT, data released by the Oil Ministry showed..
Crude oil imports increased by 5.7 per cent and 0.9 per cent during January 2024 and April-January 2023-24 respectively, compared to the corresponding period of the previous year..
On the other hand, natural gas consumption (including internal consumption) for January 2024 stood at 5,494 MMSCM (million metric standard cubic meters), which was 14 per cent higher than the corresponding month of the previous year, according to the official data..
The cumulative import of 25,305(P) MMSCM for the current financial year till January 2024 was higher by 15 per cent compared with the corresponding period of the previous year..
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