Union Petroleum Ministry released its data for the FY 2020-21, the crude oil production of India fell to 30.5 million tonnes. It was 32.17 million tonnes in the FY 2019-20.

The data released by Petroleum Ministry are as follows:

Oil

  • India’s crude oil production fell by 5 per cent in the year 2020-21 as compared to the previous year.
  • ONGC produced 2 per cent less oil in the FY 2020-21 as compared to 2019-20. In the FY 2020-21, the oil produced by ONGC was 20.2 million tonnes. Nationwide lock down that lasted for more than 2-months shut some of its field completely.
  • The Oil India Ltd produced 5.4 per cent less oil.

Natural Gas

Natural Gas production in the FY 2020-21 was at 28.67 billion cubic metres. This was 8 per cent less than the output in FY 2019-20. However, in March 2021, the overall natural gas output of the country began to increase as the Reliance industries started their output from KG basin fields. The Reliance began producing Natural Gas in the Krishna Godavari Basin in December 2020. It is now producing gas at the rate of 1.3 million cubic metres in a day.

Crude Oil Refineries

  • Both Indian private and public sectors together processed 13 per cent less crude oil in the FY 2020-21. In 2020-21, the total amount of crude oil that was processed in the country was 221.7 million tonnes.
  • Public Sector refineries such as Indian Oil Corporation processed 12 per cent less crude oil. In the FY 2020-21, the crude oil processed by public sectors was 127.5 million tonnes.
  • During 2020-21, the refineries produced 11.2 per cent less petroleum products.

Imports

  • Around 85 per cent of India’s crude oil is imported.
  • In the FY 2020-21, India spent $61.9 billion on its crude oil imports.
  • India imported 198.2 million tonnes of crude oil in the FY 2020-21.
  • In the FY 2019-20, India spent $101.4 billion on its crude oil imports.
  • In the FY 2019-20, India imported 227 million tonnes of crude oil.

Demand

  • The demand for petroleum products in the country fell by 9 per cent in the FY 2020-21. In 2020-21, India consumed 194.6 million tonnes of petroleum products.
  • In the FY 2019-20, India consumed 214.1 million tonnes of petroleum products.

India’s Crude Oil Output Drops India’s Crude Oil Output Drops