NEW DELHI--India's crude-oil output was down in May while
natural-gas output continued a downtrend that started about four
years ago, federal oil ministry data showed Tuesday.
Crude-oil output fell 0.3% year over year to about 3.16 million
metric tons, or 747,187 barrels a day, the data showed. The
government's target was 3.26 million tons.
Less output from ageing wells of state-run Oil & Natural Gas
Corp. (500312.BY), India's largest oil-and-gas company by output,
hurt production, the ministry said.
Natural-gas output fell 2.2% to 2.94 billion cubic meters. That,
too, was short of the government's estimate of 3 billion cubic
meters.
Gas output has been declining mainly because of lower production
at Reliance Industries Ltd.'s (500325.BY) Krishna Godavari D6 block
off the east coast--the country's largest gas deposit.
Lower-than-expected production at some wells operated by state-run
explorers, including Oil & Natural Gas Corp., as well as delays
in commissioning other projects have hurt output.
India meets about three-quarters of its energy requirements
through imports and a shortfall in local output puts mean it has to
buy more overseas.
Write to Saurabh Chaturvedi at saurabh.chaturvedi@wsj.com
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