Crude oil output in India increased by 4.6% in May

India’s crude oil production has increased by 4.6 per cent year-on-year to 2.6 million tonnes (MT) in May 2022.

Compared with the target for the month, the output was higher by 2.4 per cent.

Cumulatively, the output during the first two months of FY23 rose around 2 per cent Y-o-Y to 5.1 MT, while it was higher by 2.9 per cent compared with the target for April and May 2022, the Ministry of Petroleum and Natural Gas (MoPNG) said.

Indian refineries’ crude processing during May this year stood at 22.6 MT, which is 4.96 per cent higher than target for the month as well as 19.34 per cent higher than May 2021. Total crude oil processed during April and May 2022 was 44.22 MT, which is 3.81 per cent and 13.81 per cent higher than target for the period and production during corresponding period of last year, respectively.

PSU refineries processed 14.14 MT of crude oil during May 2022, which is 5.61 per cent higher than the target for the month and 32.56 per cent higher than the production of May 2021. Cumulatively, the crude throughput during April-May 2022 was 27.87 MT which is 3.94 per cent and 22.02 per cent higher than target for the period and production during corresponding period of last year, respectively.

The private sector and joint venture refineries’ processed 8.51 MT in May, which is 3.91 per cent higher than the target for the month and 2.38 per cent higher than the production of May 2021. Cumulative crude throughput during April-May 2022 was 1.64 MT, which is 3.58 per cent and 2.10 per cent higher than target for the period and production during corresponding period of last year, respectively.

India’s natural gas production during May 2022 was 2,913.65 million standard cubic meters (MSCM), which is 5.06 per cent lower than the monthly target and 6.35 per cent higher than production of May 2021.