Page 39 - Policy Economic Report_Jan 25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Key developments in Oil & Gas sector

? Monthly Production Report for December, 2024

1. Production of Crude Oil

Indigenous crude oil and condensate production during December 2024 was 2.5 MMT. OIL registered a
production of 0.3 MMT, ONGC registered a production of 1.6 MMT whereas PSC/RSC registered
production of 0.6 MMT during December 2024. There is a growth of 0.6 % in crude oil and condensate
production during December 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 December (P) was 3066 MMSCM which was lower by
2.1% compared with the corresponding month of the previous year. The cumulative gross production of
natural gas of 27310 MMSCM for the current financial year till December 2024 was higher by 0.4%
compared with the corresponding period of the previous year.

3. Crude Oil Processed (Crude Throughput)

Total Crude oil processed during December 2024 was 23.9 MMT which is 5.2% higher than December
2023, where PSU/JV refiners processed 16.4 MMT and private refiners processed 7.5 MMT of crude oil.
Total indigenous crude oil processed was 2.1 MMT and total Imported crude oil processed was 21.8 by all
Indian refineries (PSU+JV+PVT). There was a growth of 2.2% in total crude oil processed in April-December
current Financial Year as compared to same period of previous Financial Year.

4. Production of Petroleum Products

Production of petroleum products was 25.3 MMT during December 2024 which is 2.9% higher than
December 2023. Out of 25.3 MMT, 25.0 MMT was from refinery production & 0.3 MMT was from
fractionator. There was a growth of 2.8% in production of petroleum products in April-December FY 2024
– 25 as compared to same period of FY 2023 – 24. Out of total POL production, in December 2024, share
of major products including HSD is 41.8%, MS 17.3%, Naphtha 6.2%, ATF 6.6%, Pet Coke 5.2%, LPG 4.5%,
and rest is shared by Bitumen, FO/LSHS, LDO, Lubes & others.

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