(FE)
Domestic natural gas production fell 11.3% to 2,333 million metric standard cubic metre (MMSCM) in June. The 2.5 million tonne (MT) of crude oil produced in the country in the month was also 5.7% lower than the production from a year-ago period. Indigenous crude oil production caters to about only 15% of the country’s requirements, while for natural gas, 51% of requirement has to be imported.
Domestic natural gas output fell 5.1% year-on-year to 31,184 MMSCM in FY20, reversing the growth trend recorded since FY18. Also, the 32.2 MT of crude oil produced in the country in the fiscal was 5.8% lower than the output from a year-ago period. The development coincides with domestic consumption of petroleum products falling 7.8% year-on-year to 16.3 MT in June. Consumption has of course improved from April, when only 9.9 MT of products were sold with the lockdown to contain the spread of the coronavirus being implemented throughout the month.
