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News Brief | July 2014

Oil output drops marginally in May

India's crude oil production dropped marginally in May as a fall in output at fields operated by State-owned ONGC and OIL negated increased flows from private firms, including Cairn India. Crude oil production was at 3.16 million tonnes in May compared with 3.17 million tonnes in the same period a year ago, according to data released by the Oil Ministry here. Oil and Natural Gas Corp (ONGC) reported a 1.3 per cent drop to 1.87 million tonnes as its fields in Gujarat produced less. Oil India Ltd (OIL) produced 5.2 per cent less at 284,143 tonnes, while output from fields operated by private firms rose 3.1 per cent to 1.005 million tonnes.
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