India’s crude oil production falls 3.76 percent in July

India’s crude oil production stood at 2453.19 thousand metric tonnes (TMT) in July 2022, which is 3.76 per cent lower than the production of July 2021 and 5.57 per cent down when compared with the target for the month, according to the official data released on Tuesday.Cumulative crude oil production during April-July, 2022 was 9912.42 TMT, which is 2.17 per cent lower than the target for the period and 0.50 per cent lower than production during the corresponding period of last year, according to data released by the Ministry of Petroleum & Natural Gas.Crude oil production by ONGC (Oil and Natural Gas Corporation) in the nomination block during July 2022 was 1636.56 TMT, which is 3.36 per cent lower than target of the month and 1.70 per cent lower when compared with production of July 2021.Also read: Saudi Arabia is booming with visitors and this time it isn’t only about oilCumulative crude oil production by ONGC during April-July, 2022 was 6606.19 TMT, which is 1.12 per cent lower than the target for the period but 1.99 per cent higher than the target for the period and production during the corresponding period of last year respectively.Reasons for shortfall in production include: natural decline in production from Gandhar in Ankleshwar; ceasure of high potential wells in Geleki field in Assam; closure of wells due to DAB issues; less contribution from PEC fields in Jorhat and restriction on drilling activities due to socio-political issues in Cauvery.Crude oil production by OIL (Oil India Ltd) in the nomination block during July 2022 was 263.70 TMT, which is 8.11 per cent lower than the target of the month but 4.12 per cent higher when compared with production of July 2021.Cumulative crude oil production by OIL during April-July 2022 was 1037.55 TMT, which is 4.94 per cent lower than the target for the period but 4.21 per cent higher when compared to production during the corresponding period of last year.Also read: India was never defensive about stand on Russian oil: JaishankarReasons for shortfall in production are: less than planned contribution from workover wells and loss due to miscreant activities in Main Producing Area (MPA).Crude oil production by Pvt/JVs companies in the PSC/RSC regime during July 2022 was 552.92 TMT, which is 10.45 per cent lower than the target of the reporting month and 12.34 per cent lower than the month production of July 2021.Cumulative crude oil production by Pvt/JVs companies during April-July 2022 was 2268.68 TMT, which is 3.87 per cent and 8.86 per cent lower than the target for the period and production during the corresponding period of last year respectively.