The Ministry of Petroleum and Natural Gas released its monthly production report for February 2022 today, on March 22.
As per the report, crude oil production failed to meet target while also lower in terms of year-on-year (YoY) data for the period; while natural gas production was higher in YoY terms, but still lower than the monthly target.
Further, crude oil processed during the month was lower than target, but higher YoY basis; and production of petroleum products was higher — in both target for the month and YoY numbers.
Here are the details of the report.
— Production at 2272.26 TMT was 5.60 percent lower than the target for the month.
— Production was 2.19 percent lower than the production of February 2021 (YoY).
— Cumulative crude oil production during April-February FY22 was 27162.3 TMT, 4.71 percent than target for the period.
— Cumulative crude oil production during April-February FY22 was 2.57 percent lower YoY.
— Crude oil production by the Oil and Natural Gas Corporation (ONGC) at 1510.52 TMT, was 2.92 percent lower than month’s target; and 2.22 percent lower YoY.
— Cumulative crude oil production by ONGC during April-February, 2021-22 at 17769.62 TMT is 4.18 percent and 3.79 percent lower than target for the period and production YoY.
— Crude oil production by Oil India (OIL) at 230.25 TMT, was 5.38 percent higher YoY, but 10.97 percent lower than target of the month.
— Cumulative crude oil production by OIL during April-February 2021-22 was 2729.41 TMT, which is 1.55 percent higher YoY, but 5.68 percent lower than target for the period.
— Crude oil production by private companies and joint venture companies was 531.49 TMT, which is 10.29 percent lower than the month target and 5.06 percent lower YoY.
— Cumulative crude oil production by private companies and JVs during April-February 2021-22 was 6663.29 TMT, which is 5.72 percent and 0.88 percent lower for the month and YoY, respectively.
Natural Gas Production data for February 2022:
— Natural gas production at 2602.26 MMSCM was 12.79 percent higher YoY.
— It was 16.19 percent lower than the monthly target.
— Cumulative natural gas production during April-February 2021-22 was 31137.26 MMSCM, which is 19.82 percent higher YoY.
— Cumulative natural gas production during April-February 2021-22 was 10.18 percent lower when compared with target for the period.
— Natural gas production by ONGC was 1581.80 MMSCM, which is 13.11 percent lower than target for the month and 2.97 percent lower YoY.
— Cumulative natural gas production by ONGC during April-February, 2021-22 was 18872.98 MMSCM, which is 11.43 percent and 5.82 percent lower than target for the period and production YoY.
— Natural gas production by OIL was 219.30 MMSCM which is 16.72 percent higher YoY, but 2.90 percent lower than the month target.
— Cumulative natural gas production by OIL during April-February 2021-22 was 2642.04 MMSCM, which is 16.41 percent higher YoY and 2.10 percent lower than target for the period.
— Natural gas production by private companies and JVs was 801.17 MMSCM, which is 63.82 percent higher YoY, but 24.33 percent lower for the month.
— Cumulative natural gas production by private companies and JVs is 161.70 percent higher YoY, and 9.73 percent lower than target for the period.
Crude oil processed (crude throughput) data for February 2022:
— Crude oil processed was 20443.03 TMT, which is 0.85 percent lower than month target, but 9.81 percent higher YoY.
— Cumulative crude processed during April-February 2021-22 was 219366.82 TMT, which is 1.04 percent and 9.25 percent higher than month target for the period and YoY production, respectively.
— Crude oil processed by CPSE Refineries’ was 12485.47 TMT, which is 3.81 percent lower than the February target, but 6.45 percent higher YoY.
— Cumulative crude throughput during April-February 2021-22 was 124359.71 TMT which is 8.46 percent higher YoY, but 3.63 percent lower than target for the period.
— Crude oil processed by private refineries in February was 6353.24 TMT, which is 1.28 percent higher YoY.
— Cumulative crude throughput during April-February 2021-22 was 76366.53 TMT, which is 6.82 percent higher YoY.
Production of petroleum products data for February 2022:
— Production of petroleum products during February 2021 was 21151.70 TMT, which is 1.21 percent higher target for the month and 8.81 percent higher YoY.
— Cumulative production during April-February, 2021-22 was 230158.29 TMT, which is 1.66 percent and 9.24 percent higher than the month target and YoY production, respectively.
— OIL’s refineries produced 20858.84 TMT in February, which is 1.45 percent higher than the month target and 9.01 percent higher YoY.
— Cumulative production during April-February, 2021-22 was 226434.58 TMT, which is 1.79 percent and 9.48 percent higher than target month and YoY production, respectively.
— Production by fractionators during February 2022 was 292.86 TMT, which is 13.39 percent lower than the target for the month and 3.55 percent lower YoY.
— Cumulative production during April-February, 2021-22 was 3723.71 TMT, which is 5.68 percent and 3.40 percent lower than the target and YoY production, respectively.