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 Transport

Mumbai-Ahmedabad Bullet Train Set to Launch by 2028

India’s first bullet train is set to revolutionize high-speed travel along the western corridor, with the Mumbai-Ahmedabad high-speed rail project aiming for a 2028 launch. This announcement marks a major milestone in India’s infrastructure goals, as it promises to reduce travel time between the two economic hubs from eight hours to just three.Spanning a planned 508-kilometre stretch, the corridor stands as a flagship example of Indo-Japanese collaboration in technology and engineering. Once operational, the train is expected to transform intercity mobility and place India among the select..

Next Story
Infrastructure Transport

Mumbai-Gandhinagar Train Service Enhances Passenger Capacity

The Mumbai Central–Gandhinagar Capital Vande Bharat Express has increased its passenger capacity by adding four additional AC chair car coaches to meet the growing commuter demand on one of India’s busiest business corridors. This upgrade, effective from 11 May, raised the train’s seating capacity from 1,128 to 1,440 passengers, allowing it to serve 936 more passengers daily in both directions. The increase was described as a practical measure to accommodate the surging demand on the busy Mumbai–Ahmedabad–Gandhinagar route, which regularly operates at over 150 percent seat occupancy...

Next Story
Infrastructure Urban

Delhi Plans 12 Sewage Plants to Clean Najafgarh Drain Efficiently

Delhi’s ambitious plan to improve the water quality of the Yamuna River has gained significant momentum as the Delhi Jal Board (DJB) has begun work on 12 new sewage treatment plants (STPs) aimed at reducing the volume of untreated sewage being discharged from the Najafgarh Drain.This initiative forms part of the ongoing efforts to clean the Yamuna and restore the river’s health, which has long been a critical environmental issue for the national capital. Given the alarming pollution levels in the Yamuna, experts and officials consider this project a vital step toward addressing the persist..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?