India’s Crude Oil Production Falls 2.1% in November

30 Dec 2024 CW Team

India’s crude oil production fell by 2.1% year-on-year in November 2024, totaling 2.3 million metric tonnes (MMT), according to data from the Petroleum Planning and Analysis Cell (PPAC).

The production breakdown includes 0.3 MMT from Oil India Limited (OIL), 1.5 MMT from ONGC, and 0.6 MMT from private operators under Production Sharing Contracts.

In November, Indian refineries processed 21.6 MMT of crude oil, a slight decrease of 0.1% compared to last year. Public sector and joint venture refiners processed 14.7 MMT, while private refiners handled 6.9 MMT. A total of 19.6 MMT of crude was imported.

Despite the drop in crude oil output, petroleum product production rose by 2.9% to 23.5 MMT in November 2024. This was led by high-speed diesel (HSD) at 41.1%, followed by motor spirit (MS) at 17%.

Crude oil imports increased by 2.6%, and POL product imports grew by 10.7%, particularly for LPG and lubricants.

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