India’s February output of crude oil, natural gas falls
BY SAURABH CHATURVEDI
NEW DELHI -- India' s crude oil production fell 4% on year in February and natural gas output continued its declining trend.
Crude oil output fell to 2.87 MMmt oil ministry data showed. The government' s target was 3.18 MMmt.
ONGC’s output fell 5.2% on year to 1.74 MMmt hurt by high water content and a power shutdown at fields in Gujarat. Output at its main Mumbai High offshore field was less than expected.
India imports about 80% of its crude-oil requirement.
Natural gas output fell 20.1% on year to 2.88 Bcm missing the government' s estimate of 3.19 Bcm.
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