Ongc: The oil and gas output has risen to 8.3 million metric tonnes of oil equivalent (mmtoe) in the April-August period from 8.1 mmtoe in the same period last fiscal year.
The oil and gas output has risen to 8.3 million metric tonnes of oil equivalent (mmtoe) in the April-August period from 8.1 mmtoe in the same period last fiscal year. The annual output had reached a peak of 24.7 mmtoe in 2018-19 following the purchase of stakes in Russia s Vankor field by Indian state-run firms in 2015 and 2016. The output started declining in 2019-20 and had dropped 21% by 2022-23 as fields matured, producer cartel OPEC+ took voluntary production cuts, and geopolitics throttled output in a Russian field last year.
Diesel And Petrol Prices: In August, the consumption of diesel decreased by 2.9% compared to the previous year, while petrol consumption increased by 0.4%, according to data from state oil companies. Demand for aviation turbine fuel (ATF) rose by 9.5% year-on-year, and demand for LPG increased by 4.4%. Compared to August 2019, ATF sales were still 3.2% lower, while petrol and diesel sales increased by 21.2% and 8.4% respectively.
In August, the consumption of diesel decreased by 2.9% compared to the previous year, while petrol consumption increased by 0.4%, according to data from state oil companies. Demand for aviation turbine fuel (ATF) rose by 9.5% year-on-year, and demand for LPG increased by 4.4%. Compared to August 2019, ATF sales were still 3.2% lower, while petrol and diesel sales increased by 21.2% and 8.4% respectively.
Diesel and petrol exports combined amounted to $42 billion (about ₹3,33,620 crore) in 2022-23, securing higher profits to fuel exporters, mainly private sector refiners, and foreign exchange benefits to the country, according to the petroleum and natural gas ministry data.