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

                                 Key developments in Oil & Gas sector

               • Monthly Production Report for November, 2024

               1. Production of Crude Oil

               Indigenous crude oil and condensate production during November 2024 was 2.3 MMT. OIL registered a
               production of 0.3 MMT, ONGC registered a production of 1.5 MMT whereas PSC/RSC registered
               production of 0.6 MMT during November 2024. There is a de-growth of 2.1% in crude oil and condensate
               production during November 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 November was 2972(P) MMSCM which was lower by
               2.3% compared with the corresponding month of the previous year. The cumulative gross production of
               natural gas of 24243 MMSCM for the current financial year till November 2024 was higher by 0.7%
               compared with the corresponding period of the previous year.

               3. Crude Oil Processed (Crude Throughput)

               Total Crude oil processed during November 2024 was 21.6 MMT which is -0.1 % lower than November
               2023, where PSU/JV refiners processed 14.7 MMT and private refiners processed 6.9 MMT of crude oil.
               Total indigenous crude oil processed was 2 MMT and total Imported crude oil processed was 19.6 by all
               Indian refineries (PSU+JV+PVT). There was a growth of 1.8% in total crude oil processed in April-November
               current Financial Year as compared to same period of previous Financial Year.

               4. Production of Petroleum Products

               Production of petroleum products was 23.5 MMT during November 2024 which is 2.9% higher than
               November 2023. Out of 23.5 MMT, 23.2 MMT was from refinery production & 0.3 MMT was from
               fractionator. There was a growth of 2.9% in production of petroleum products in April-November FY 2024
               – 25 as compared to same period of FY 2023 – 24. Out of total POL production, in November 2024, share
               of major products including HSD is 41.1%, MS 17%, Naphtha 6.2%, ATF 6.6%, Pet Coke 5.3%, LPG 4.4%,
               and rest is shared by Bitumen, FO/LSHS, LDO, Lubes & others.

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