• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
Armenia's Shift West Draws Ire from Moscow and Baku

Armenia's Shift West Draws Ire from Moscow and Baku

The European Union and United…

Triple Junction Solar Cell Sets World Record Efficiency

Triple Junction Solar Cell Sets World Record Efficiency

NUS researchers have developed a…

Josh Owens

Josh Owens

Josh Owens is the Content Director at Oilprice.com. An International Relations and Politics graduate from the University of Edinburgh, Josh specialized in Middle East and…

More Info

India’s Oil Production Fell 4% In July

Private firms and state-held Oil and Natural Gas Corporation (ONGC) pumped less oil from some of their fields in India in July, driving total domestic Indian crude oil production down by 3.8 percent in July compared to the same month of 2021. 

India’s crude oil production dropped to 2.45 million tons last month, from 2.54 million tons in July last year, Indian media reported on Tuesday, citing government data from the Ministry of Petroleum and Natural Gas. 

ONGC-operated oilfields pumped 1.7 percent less crude in July 2022 due to lower production from offshore western India. Oil output at private firm-operated oilfields slumped by 12.34 percent year over year in July, according to the data.   

Indian oil production so far this fiscal year that began in April has been only slightly lower compared to the same period last year, per the government data. 

Refinery processing ran very strong in both July and April-July this year. Last month, India’s refineries operated at over 100 of their capacity, compared to 91.58 percent utilization in July 2021. Between April and July, refinery utilization hit 103.87 percent of capacity, up from 92.01 percent for the same period last year. Global refining margins soared in the second quarter of this year amid tight supply and a rebound in fuel demand. 

Related: U.S. Rig Count Stalls

India, which is the world’s third-largest crude oil importer and whose imports make up around 80 percent of its oil consumption, saw its crude imports in July drop from June by 3.2 percent at 4.63 million barrels per day (bpd), due to planned maintenance at some refineries beginning in August, Reuters reported last week, quoting data it had obtained from trade and industry sources. 

In July, India’s oil imports from Russia fell for the first time month-on-month since March as Russian spot prices strengthened amid high demand in Asia, according to the data. Indian imports of Russian crude fell by 7.3 percent from June, but Russia remained India’s second-biggest oil supplier after Iraq. Saudi Arabia is still India’s third-biggest supplier, with shipments surging by 25.6 percent in July to the highest in three months, according to the data Reuters obtained.   

ADVERTISEMENT

By Josh Owens for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News