Private Players, Joint Ventures Post 10.67% Decline In Natural Gas For June

India’s total natural gas production for the month was 2755.48 million metric standard cubic meters (MMSCM), 6.05 per cent higher compared to June last year, despite of falling 2.75 per cent behind the month’s target.

Cumulative natural gas production during the April-June period rose 4.04 per cent to 8,057.72 mmscm year-on-year.

ONGC reported a 12.92 per cent jump for the month, producing 1974.47 MMSCM natural gas, surging 1.59 per cent higher than the month’s target.

OIL, however, was down to 237.36 MMSCM which is 1.70 per cent lower than the monthly target and 1.61 per cent lower than June, 2016.

During the quarter, ONGC produced 10.76 per cent higher than the year-ago period's production, while OIL’s output fell 0.98 per cent compared to last year.

Similar to the crude oil production performance, the private players and joint ventures fall behind in the natural gas production by 10.67 per cent for the month. The production was down to 543.65 MMSCM, 16.15 per cent lower than the monthly target.

Cumulative natural gas production by private/joint ventures during April-June, 2017 was 1605.39 MMSCM which is 18.29 per cent lower than the cumulative target and 12.82 per cent lower than the production during the corresponding period of last year.

Delay in PML grant for Hindustan Oil Exploration’s (HOEC) Assam block, closure of Essar’s Raniganj block for planned maintenance, closure of around 100 wells due to high water cut of Rajasthan reserves of Cairn India were some of the major attributions to the under performance of the overall private natural gas production.

Naina Sood

BW Reporters Naina Sood is a Economics graduate and has done her post graduation in International economics and Trade. She has deep interests in Indian economy and reforms