Natural gas production for January sees 12% growth y-o-y as private sector ups output

• The cumulative natural gas production registered a 20.50 percent growth year-on-year during April-January period at 28,535 MMSCM
• Natural gas production by private/JV companies in the PSC/RSC/CBM regime during January was 878.76 MMSCM, which is 85.78 percent higher than January 2021 

New Delhi: On account of increased production from the private sector, India's natural gas production during January 2022 rose by 12.17 percent year-on-year to settle at 2,861.09 MMSCM. However, the production still missed the target set by the government for the month of January by 16.47 percent. The cumulative natural gas production during April-January 2021-22 was 28,535 MMSCM, which is 20.50 percent higher than the production during the corresponding period of the last year but 9.59 percent lower when compared with the target for the period. 

ONGC misses natural gas production target by 12.53%

Natural gas production by Oil and Natural Gas Corporation (ONGC) in the nomination blocks during January was 1,749.35 MMSCM, which is 12.53 percent lower than the target for the month and 6.24 percent lower than the production of January 2021. The cumulative natural gas production by ONGC during the April-January period of 2021-22 was 17,291.18 MMSCM, which is 11.28 percent lower than the target for the period and 6.08 percent lower when compared to the corresponding period of the last year. 

OIL improves natural gas production

Natural gas production by Oil India Ltd (OIL) in the nomination block during January was 232.98 MMSCM, which is 9.92 percent higher than the target for the month and 6.81 percent lower than the production of January 2021. The cumulative natural gas production by OIL during April-January 2021-22 was 2,422.75 MMSCM, which is 16.38 percent higher than the production during the corresponding period of the last year but 2.03 percent lower than the target for the period. Shortfall in production was recorded due to less than planned contribution from workover wells and drilling wells, said the Ministry of Petroleum and Natural Gas.

Private sector ups output by 86% y-o-y

Natural gas production by private/JV companies in the PSC/RSC/CBM regime during January was 878.76 MMSCM, which is 85.78 percent higher than the production of January 2021 but 25.22 percent lower than the target for the month. The cumulative natural gas production during April-January period of 2021-22 was 8,821.07 MMSCM, which is 176.71 percent higher than the production during the corresponding period of the last year but 8.12 percent lower than the target for the period.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)