By Saurabh Chaturvedi
NEW DELHI--India's crude-oil production fell 2.4% on year in May
and natural-gas output continued its declining trend.
Crude oil output fell to 3.17 million metric tons, or 749,550
barrels a day, oil ministry data showed Friday. The government's
target was 3.20 million tons.
oil output from state-run Oil & Natural Gas Corp.
(500312.BY) fell 0.9% on year to 1.89 million tons--446,893 barrels
a day--as high water content and a power shutdown at fields in
Gujarat took their toll. Output at its main Mumbai High offshore
field was lower than expected.
India imports about 80% of its crude-oil requirement.
Natural gas output in India fell 18.7% on year to 3.01 billion
cubic meters, missing the government's estimate of 3.19 billion
cubic metres.
Write to Saurabh Chaturvedi at
saurabh.chaturvedi@dowjones.com
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