Page 39 - Policy Economic Report - September 2024
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POLICY AND ECONOMIC REPORT
                    OIL & GAS MARKET

                                  Key developments in Oil & Gas sector

                • Monthly Production Report for August, 2024

                1. Production of Crude Oil

                Indigenous crude oil and condensate production during August 2024 was 2.4 MMT. OIL registered a
                production of 0.3 MMT, ONGC registered a production of 1.6 MMT whereas PSC/RSC registered
                production of 0.5 MMT during August 2024. There is a de-growth of 2.9% in crude oil and condensate
                production during August 2024 as compared with the corresponding period of the previous year.

                2. Production of Natural Gas

                Gross production of natural gas for the month of August 2024 (P) was 3048 MMSCM which was lower by
                3.7% compared with the corresponding month of the previous year. The cumulative gross production of
                natural gas of 15183 MMSCM for the current financial year till August 2024 was higher by 2.2% compared
                with the corresponding period of the previous year.

                3. Crude Oil Processed (Crude Throughput)

                Total Crude oil processed during August 2024 was 21.5 MMT which is 1.9% lower than August 2023, where
                PSU/JV refiners processed 14.4 MMT and private refiners processed 7.2 MMT of crude oil. Total
                indigenous crude oil processed was 1.9 MMT and total Imported crude oil processed was 19.6 MMT by all
                Indian refineries (PSU+JV+PVT). There was a growth of 1% in total crude oil processed in April-August FY
                2024 – 25 as compared to same period of FY 2023 – 24.

                4. Production of Petroleum Products

                Production of petroleum products was 22.7 MMT during August 2024 which is 1% lower than August 2023.
                Out of 22.7 MMT, 22.4 MMT was from refinery production & 0.3 MMT was from fractionator. There was
                a growth of 1.8% in production of petroleum products in April-August FY 2024 – 25 as compared to same
                period of FY 2023 – 24. Out of total POL production, in August 2024, share of major products including
                HSD is 40.3%, MS 17.6%, Naphtha 6.5%, ATF 6.3%, Pet Coke 5.5%, LPG 4.6%, and rest is shared by Bitumen,
                FO/LSHS, LDO, Lubes & others.

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