India's crude oil production surges in Sept 2023, reaches 2.4 MMT

31 Oct 2023 CW Team

In September 2023, India's crude oil production exhibited consistent growth, reaching a total of 2.4 million metric tonnes (MMT), as per data disclosed by the Petroleum Planning & Analysis Cell (PPAC).

The primary contributor to this production surge was the Oil and Natural Gas Corporation (ONGC), responsible for 1.5 MMT, followed by Oil India Limited (OIL) with 0.287 MMT, and private sector producers, adding 0.60 MMT to the overall output.

During the same period, crude oil imports in India rose by 6.1%, aligning with the 0.4% growth observed from April to September 2023 compared to the previous year. Market prices also saw an increase, with the Indian basket crude averaging at $93.54/bbl in September 2023, up from $86.43/bbl in August 2023.

Additionally, the production of petroleum products in September 2023 reached 21.5 MMT, marking a 5.5% increase from September 2022. This comprised 21.2 MMT from refinery production, with the remaining output coming from fractionator operations.

Furthermore, imports of petroleum, oil, and lubricant (POL) products surged by 26.2% in September 2023. This spike was primarily attributed to increased imports of materials like bitumen, petcoke, fuel oil, and motor spirit.

These statistics underscore India's on-going efforts to enhance its energy security amid global market fluctuations, with major players like ONGC and OIL playing pivotal roles in this strategic initiative.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..