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Domestic crude production down 5 per cent in FY21
April 20, 2021
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During the same period, the domestic production of natural gas too declined by 8.06 per cent.
The domestic production of crude oil during the just-concluded financial year fell by 5.22 per cent on a year-on-year basis to 30.5 million tonnes.
For the financial year ended March 31, 2021, the domestic production of natural gas declined by 8.06 per cent to 28.7 billion cubic metre, according to the Ministry of Petroleum and Natural Gas’s Petroleum Planning and Analysis Cell (PPAC).
Oil and Natural Gas Corporation Ltd (ONGC) produced 20.6 million tonnes of crude during the year, 2.15 per cent lower than during the previous fiscal year. Its gas production was down 7.89 per cent to 21.87 bcm. Like private producers Cairn Oil and Gas and Hindustan Oil Exploration Company Ltd, the firm attributed the fall to disruptions caused by Covid-19.
Energy stocks were trading with losses, with the S&P BSE Energy index falling 41.13 points or 0.65% at 6238.8 at 13:49 IST. Among the components of the S&P BSE Energy index, Hindustan Oil Exploration Company Ltd (down 1.76%), Confidence Petroleum India Ltd (down 1.61%),Gujarat Gas Ltd (down 1.51%),Aegis Logistics Ltd (down 0.95%),Reliance Industries Ltd (down 0.92%), were the top losers. Among the other losers were Castrol India Ltd (down 0.72%), Hindustan Petroleum Corporation Ltd (down 0.6%), Selan Explorations Technology Ltd (down 0.42%), and Oil & Natural Gas Corpn Ltd (down 0.19%). On the other hand, Adani Total Gas Ltd (up 2.72%), Goa Carbon Ltd (up 1.03%), and Mangalore Refinery And Petrochemicals Ltd (up 0.64%) moved up.
Energy stocks edge lower business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Energy stocks were trading in the negative zone, with the S&P BSE Energy index falling 70.96 points or 1.05% at 6675.69 at 13:48 IST. Among the components of the S&P BSE Energy index, Aegis Logistics Ltd (down 4.21%), Selan Explorations Technology Ltd (down 2.18%),Gujarat Mineral Development Corporation Ltd (down 2.1%),Castrol India Ltd (down 2.05%),Confidence Petroleum India Ltd (down 1.89%), were the top losers. Among the other losers were Gujarat Gas Ltd (down 1.68%), Mangalore Refinery And Petrochemicals Ltd (down 1.63%), Petronet LNG Ltd (down 1.54%), Reliance Industries Ltd (down 1.53%), and Hindustan Oil Exploration Company Ltd (down 0.93%). On the other hand, Indian Oil Corporation Ltd (up 2.43%), Adani Total Gas Ltd (up 2.24%), and Bharat Petroleum Corporation Ltd (up 1.78%) moved up.