Domestic crude oil prod falls 5.7% in 9M-FY21
Domestic crude oil prod falls 5.7% in 9M-FY21
BusinessToday.In
- Jan 25, 2021,
- Updated Jan 25, 2021 9:44 AM IST
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Domestic crude oil production has fallen by 5.7% during 9M-FY21 compared with the 5.9% de-growth achieved during 9M-FY20. Technical mishaps due to COVID-19 implications, reservoir issues and shutting of wells and delays in field development activities have led to the fall in production.
Story: Shivani SharmaDesign by Pragati Srivastava
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India imported 3.8 million barrels per day of crude oil during 9M-FY21 compared with the 4.5 mb/d imported during 9M-FY20. Cumulatively imports of crude oil have fallen due to the fall in demand of petro-products
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Consumption/Crude Throughput is likely to come down to around 4.5 mb/d during FY21 compared with the 5.09mb/d consumed during FY20. Currently India has consumed 4.3 mb/d.
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Capacity utilisation during 9M-FY21 was around 85.6% compared with the 101.6% utilisation achieved in the same period in the previous corresponding year. Capacity utilisation of refineries during the month of December was 101%.
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India ranks 4th in terms of refining capacity in the world right after US, China and Russia and hosts 23 refineries: 20 belonging to the public sector and 3 in the private sector. The public sector accounts for 65% the total refining capacity whereas the private sector accounts for the remaining 35%.