PSU Watch logo

| NTPC receives Rs 135 crore as 2nd interim dividend from APCPL |   | NHAI suffered a toll loss of Rs 2,731 crore due to farmers' protest |   | Govt hints coal crisis was caused by power sector’s failure to predict surge in demand |   | Decision on RINL privatisation not under reconsideration: Steel Minister in Lok Sabha |  

Private sector drives India’s natural gas production up by 18.36% in July y-o-y

Continuing the upward trend, India’s natural gas production in July has increased by 18.36 percent in comparison to July 2020 to settle at 2,891.96 MMSCM
Private sector drives India’s natural gas production up by 18.36% in July y-o-y
Private sector drives India’s natural gas production up by 18.36% in July y-o-y
  • The increase is primarily driven by a rise in natural gas production from RIL’s D-34 field of KG DWN 98/3, which commenced in December 2020, and wells in satellite cluster
  • Natural gas production by private/JV companies in the PSC/RSC/CBM regime during July was 914.64 MMSCM, which is 190.61 percent higher than the production of July 2020

New Delhi: Continuing the upward trend, India’s natural gas production in July has increased by 18.36 percent in comparison to July 2020 to settle at 2,891.96 MMSCM, official data released by the Ministry of Petroleum and Natural Gas on Tuesday showed. The increase is primarily driven by a rise in natural gas production from Reliance Industries Ltd’s (RIL) D-34 field of KG DWN 98/3, which commenced in December 2020, and wells from satellite cluster in the same block. However, even as an year-on-year increase in output has been recorded, the production figure for the month has missed the target by 10.19 percent.

The cumulative natural gas production during April-July was 11,060.07 MMSCM, which was 19.85 percent higher than the production recorded during the corresponding period of the last year but 5.37 percent lower when compared with the target for the period. 

Private sector ups production by 190.61% y-o-y

Natural gas production by private/JV companies in the PSC/RSC/CBM regime during July was 914.64 MMSCM, which is 190.61 percent higher than the production of July 2020 but 6.60 percent lower than the target for the month. The cumulative natural gas production by for the April-July period was 3,355.63 MMSCM, which is 7.90 percent higher than the target for the period and 205.13 percent higher in comparison to the corresponding period of the last year. 

ONGC misses July target by 13.12%

Natural gas production by ONGC in the nomination blocks during July was 1,728.91 MMSCM, which is 13.12 percent lower than the target for the month and 10.21 percent lower when compared to July 2020. The cumulative natural gas production by ONGC during the April-July period was 6,780.84 MMSCM, which is 10.70 percent lower than the target for the period and 6.81 percent lower when compared to the corresponding period of the last year. ONGC’s KG-98/2 field is expected to increase the oil and gas behemoth’s natural gas production massively. However, according to the ministry, there has been a delay in the commencement of gas production from U1 field of KG-98/2 Cluster-II due to Covid. 

OIL improves output in July y-o-y

Natural gas production by Oil India Ltd (OIL) in the nomination block during July was 248.41 MMSCM, which is 22.35 percent higher than the production of July 2020 but 1.05 percent lower than the target for the month. The cumulative natural gas production by OIL during April-July period was 923.61 MMSCM, which is 8.33 percent higher than the production during the corresponding period of the last year but 6.16 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.)