Crude oil price of India was US$ 50.51 per bbl on 23.08.2017
Global Crude oil price of Indian Basket was US$ 50.51 per bbl on 23.08.2017
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 50.51 per barrel (bbl) on 23.08.2017. This was lower than the price of US$ 50.56 per bbl on previous publishing day of 22.08.2017.
In rupee terms, the price of Indian Basket decreased to Rs. 3238.93 per bbl on 23.08.2017 as compared to Rs. 3241.28 per bbl on 22.08.2017. Rupee closed weaker at Rs. 64.13 per US$ on 23.08.2017 as compared to Rs. 64.11 per US$ on 22.08.2017. The table below gives details in this regard:
Particulars
|
Unit
|
Price on August 23, 2017 Previous trading day i.e. (22.08.2017)
|
Crude Oil (Indian Basket)
|
($/bbl)
|
50.51 (50.56)
|
3238.93 (3241.28)
| ||
Exchange Rate
|
64.13 (64.11)
|
Daily Crude Oil Price
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Production Performance of Oil & Natural Gas Sector for July, 2017
Crude Oil
1. Crude oil production during July, 2017 was 3061.08 TMT which is 3.71% lower than target and 0.53% lower when compared with July 2016. Cumulative crude oil production during April-July, 2017 was 12084.55 TMT which is 2.64% lower than target for the period but 0.05% higher than production during corresponding period of last year. Unit-wise and state-wise crude oil production is given at Annexure-I. Unit-wise crude oil production for the month of July, 2017 and cumulatively for the period April-July, 2017 vis-Ã -vis same period of last year has been shown in Table-1 and month-wise in Figure-1.
Table-1: Crude Oil Production (in TMT)
Oil Company
|
Target
|
July (Month)
|
April-July (Cumulative)
| ||||||
2017-18 (Apr-Mar)
|
2017-18
|
2016-17
|
% over last year
|
2017-18
|
2016-17
|
% over last year
| |||
Target
|
Prod.*
|
Prod.
|
Target
|
Prod.*
|
Prod.
| ||||
ONGC
|
23071.00
|
1959.41
|
1917.53
|
1867.77
|
102.66
|
7612.40
|
7559.23
|
7359.91
|
102.71
|
OIL
|
3734.00
|
316.89
|
288.31
|
272.69
|
105.73
|
1247.89
|
1128.33
|
1070.87
|
105.37
|
PSC Fields
|
10562.00
|
902.68
|
855.24
|
936.94
|
91.28
|
3552.46
|
3396.99
|
3647.63
|
93.13
|
Total
|
37367.00
|
3178.98
|
3061.08
|
3077.40
|
99.47
|
12412.75
|
12084.55
|
12078.41
|
100.05
|
Note: Totals may not tally due to rounding off. *: Provisional
Figure-1: Monthly Crude Oil Production
Unit-wise production details with reasons for shortfall are as under:
1.1 Crude oil production by ONGC during July, 2017 was 1917.53 TMT which is 2.14% lower than the monthly target but 2.66% higher when compared with July, 2016. Cumulative crude oil production by ONGC during April-July, 2017 was 7559.23 TMT which is 0.70% lower than target for the period but 2.71% higher than production during corresponding period of last year. Reasons for shortfall in production are as under:
Ø Offshore: Natural decline/increase in water cut from matured fields of Western Offshore. Less than planned production from Vasai East (closure of well due to safety reason) and NBP field (ESP problem in one well; Rig intervention post-monsoon)
Ø Onshore: Power Shut down/Electrical faults due to heavy rain in Ahmedabad & Mehsana, Power shut-down, increase in water cut in Ankleshwar & Cambay and Power shut-down in Assam.
1.2 Crude oil production by OIL during July, 2017 was 288.31 TMT which is 9.02% lower than monthly target but 5.73% higher than production in July, 2016. Cumulative crude oil production by OIL during April-July, 2017 was 1128.33 TMT which is 9.58% lower than target for the period but 5.37% higher than production during corresponding period of last year. Reasons for shortfall in production are as under:
Ø Less than planned achievement due to higher decline in production potential of wells mainly in Greater Hapjan and Greater Chandmari areas.
Ø Less than planned contribution from work over wells.
1.3 Crude oil production by Pvt/JVs during July, 2017 was 855.24 TMT which is 5.25% lower than the monthly target and 8.72% lower than July, 2016. Cumulative crude oil production by Pvt/JVs during April-July, 2017 was 3396.99 TMT which is 4.38% lower than target for the period and 6.87% lower than the production during corresponding period of last year. Reasons for shortfall in production are as under:
Ø RJ-ON-90/1 (CIL): Around 140 wells are closed either due to high water cut or require WOJ and poor reservoir performance of Bhagyam. Production stopped from Guda, Kaameshwari west and Saraswati due to non-availability of tankers in July 2017
Ø Panna-Mukta (BG): Shutdown of PC, PG, PF platforms to resolve integrity issues in IG line at PPA end from 16th July 2017 and natural decline.
Ø CY-ONN-2002/2 (ONGC): Test production from 5 oil wells. PML not yet granted.
Ø CB-ONN-2004/2 (ONGC): Underperformance of wells.
Natural Gas
2 Natural gas production during July, 2017 was 2858.50 MMSCM which is 4.40% lower than the target for the month but 5.69% higher when compared with July, 2016. Cumulative natural gas production during April-July, 2017 was 10916.43 MMSCM which is 5.39% lower than target for the period but 4.47% higher than the production during corresponding period of last year. Unit-wise and state-wise natural gas production is given at Annexure-II. Unit-wise natural gas production for the month of July, 2017 and cumulatively for the period April-July, 2017 vis-Ã -vis same period of last year has been shown in Table-2 and month-wise in Figure-2.
Table-2: Natural Gas Production (MMSCM)
Oil Company
|
Target
|
July (Month)
|
April-July (Cumulative)
| ||||||
2017-18 (Apr-Mar)
|
2017-18
|
2016-17
|
% over last year
|
2017-18
|
2016-17
|
% over last year
| |||
Target
|
Prod.*
|
Prod.
|
Target
|
Prod.*
|
Prod.
| ||||
ONGC
|
24208.00
|
2050.85
|
2055.12
|
1823.71
|
112.69
|
7891.81
|
7784.14
|
6996.12
|
111.26
|
OIL
|
3000.00
|
264.97
|
250.23
|
256.12
|
97.70
|
1008.21
|
973.75
|
986.83
|
98.67
|
PSC Fields
|
8034.00
|
674.15
|
553.15
|
624.81
|
88.53
|
2638.86
|
2158.54
|
2466.34
|
87.52
|
Total
|
35242.00
|
2989.98
|
2858.50
|
2704.64
|
105.69
|
11538.88
|
10916.43
|
10449.29
|
104.47
|
Note: Totals may not tally due to rounding off. *: Provisional
Figure-2: Monthly Natural Gas Production
2.1 Natural gas production by ONGC during July, 2017 was 2055.12 MMSCM which is 0.21% higher than the monthly target and 12.69% higher when compared with July, 2016. Cumulative natural gas production by ONGC during April-July, 2017 was 7784.14 MMSCM which is 1.36% lower than the cumulative target but 11.26% higher than the production during the corresponding period of the last year. The major reason for shortfall in production was decline in Bassein field and delay in commencement of production planned from one new sub-sea well S-AC.
2.2 Natural gas production by OIL during July, 2017 was 250.23 MMSCM which is 5.57% lower than the monthly target and 2.30% lower than July, 2016. Cumulative natural gas production by OIL during April-July, 2017 was 973.75 MMSCM which is 3.42% lower than the cumulative target and 1.33% lower than the production during the corresponding period of last year Reasons for shortfall in production are as under:
Ø Low production potential availability of old wells due to water ingress, sand ingress and unexpected down hole problems.
Ø Unplanned shut down of GT-1 unit of NTPS for maintenance.
Ø Unplanned shut down of gas turbines of RRVUNL.
2.3 Natural gas production by Pvt/JVs during July, 2017 was 553.15 MMSCM which is 17.95% lower than the monthly target and 11.47% lower when compared with July, 2016. Cumulative natural gas production by Pvt/JVs during April-July, 2017 was 2158.54 MMSCM which is 18.20% lower than the cumulative target and 12.48% lower than the production during the corresponding period of last year. Reasons for shortfall in production are as under:
Ø Sohagpur West (RIL): Underperformance of CBM wells. Production restrained due to maximum CBM intake limited by IFFCO to 1,80,000 SCMD at GAIL’s Phulpur terminal in June 2017
Ø Raniganj East (Essar): Few wells closed for planned maintenance and refrac jobs.
Ø Closure of 2 wells in D1D3 field and 1 well in MA Field in KG-DWN-98/3 (RIL).
Ø Underperformance of KG- OSN-2001/3 (GSPC)
Ø Panna-Mukta (BG): Shutdown of PC, PG, PF platforms to resolve integrity issues in IG line at PPA end from 16th July 2017 and natural decline.
3. Refinery Production (in terms of crude oil processed)
Refinery production during July, 2017 was 20531.95 TMT which is 6.20% higher than the target for the month but 3.25% lower when compared with July, 2016. Cumulative production during April-July, 2017 was 81430.33 TMT which is 3.94% higher than the target for the period but 0.08% lower than the production during corresponding period of last year. Unit-wise production is given at Annexure-III. Company-wise production for the month of July, 2017 and cumulatively for the period April-July, 2017 vis-Ã -vis same period of last year has been shown in Table-3 and month-wise in Figure-3.
Table 3: Refinery Production (TMT)
Oil Company
|
Target
|
July (Month)
|
April-July (Cumulative)
| ||||||||||
2017-18 (Apr-Mar)
|
2017-18
|
2016-17
|
% over last year
|
2017-18
|
2016-17
|
% over last year
| |||||||
Target
|
Prod.*
|
Prod.
|
Target
|
Prod.*
|
Prod.
| ||||||||
CPSE
|
139090
|
10053.05
|
11964.15
|
11811.69
|
101.29
|
44519.50
|
47654.40
|
45614.36
|
104.47
| ||||
IOCL
|
65750
|
3948.00
|
5377.82
|
5685.86
|
94.58
|
20689.00
|
22898.65
|
21783.51
|
105.12
| ||||
BPCL
|
27000
|
2150.00
|
2399.91
|
2133.17
|
112.50
|
8350.00
|
8737.96
|
8335.57
|
104.83
| ||||
HPCL
|
17309
|
1440.53
|
1563.87
|
1420.68
|
110.08
|
5737.10
|
6054.26
|
5899.72
|
102.62
| ||||
CPCL
|
10300
|
932.47
|
974.13
|
996.21
|
97.78
|
3507.12
|
3563.06
|
3638.85
|
97.92
| ||||
NRL
|
2670
|
226.65
|
238.99
|
236.90
|
100.88
|
892.36
|
943.51
|
924.58
|
102.05
| ||||
MRPL
|
16000
|
1350.00
|
1403.88
|
1331.96
|
105.40
|
5325.00
|
5431.03
|
5004.23
|
108.53
| ||||
ONGC
|
62
|
5.40
|
5.55
|
6.93
|
80.11
|
18.92
|
25.94
|
27.89
|
93.00
| ||||
JVs
|
15201
|
1345.00
|
762.47
|
1410.45
|
54.06
|
4031.00
|
3357.30
|
5836.50
|
57.52
| ||||
BORL
|
6000
|
525.00
|
611.28
|
501.85
|
121.81
|
2100.00
|
2384.48
|
2184.22
|
109.17
| ||||
HMEL
|
9201
|
820.00
|
151.19
|
908.60
|
16.64
|
1931.00
|
972.83
|
3652.28
|
26.64
| ||||
Private
|
90480
|
7935.43
|
7805.33
|
7998.79
|
97.58
|
29796.10
|
30418.62
|
30043.37
|
101.25
| ||||
RIL
|
70174
|
6238.53
|
6034.53
|
6238.53
|
96.73
|
23065.59
|
23521.58
|
23065.59
|
101.98
| ||||
EOL
|
20306
|
1696.90
|
1770.81
|
1760.26
|
100.60
|
6730.50
|
6897.04
|
6977.78
|
98.84
| ||||
TOTAL
|
244771
|
19333.49
|
20531.95
|
21220.94
|
96.75
|
78346.60
|
81430.33
|
81494.22
|
99.92
| ||||
Note: Totals may not tally due to rounding off. *: Provisional
Figure 3: Monthly Refinery Production
3.1 CPSE Refineries’ production during July, 2017 was 11964.15 TMT which is 19.01% higher than the target for the month and 1.29% higher than the production achieved in the corresponding month of last year. Cumulative production by CPSE refineries during April-July, 2017 was 47654.40 TMT which is 7.04% higher than the target for the period and 4.47% higher than the production during corresponding period of last year. Reasons for shortfall of refinery production in some CPSE refineries are as under:
Ø IOCL, Guwahati: Lower due to deferment shutdown of HGU, HDT & MSQ from Apr'17 to Jun'17.
Ø IOCL, Barauni: Lower due to advancement of M&I shutdown by 5 days in July, 2017.
Ø IOCL, Panipat: Lower due to M&I shutdown of AVU-II from 18th Jul'17 onwards and high VGO/SRGO ISD stocks.
Ø IOCL, Gujarat: Lower due to deferment of M&I shutdown from May-Jun’17 to Jun-Jul'7.
Ø IOCL, Bongaigaon: Lower due to CDU-1 idling due to low crude stock and high DHDT ISD due to HGU and DHDT shutdown.
Ø BPCL, Mumbai: Lower due to planned outage of CDU3/ Hydrogen / Hydrocracker units for turnaround revamp.
3.2 Production in JV refineries during July, 2017 was 762.47 TMT which is 43.31% lower than the target for the month and 45.94% lower than the production achieved in the corresponding month of last year. Cumulative production by JVs refineries during April-July, 2017 was 3357.31 TMT which is 16.71% lower than the target for the period and 42.48% lower than the production during corresponding period of last year. The major reason for shortfall in production from HMEL refinery was planned shutdown during May-Jun’17and Extension of low cost expansion Project.
3.3 Production in private refineries during July, 2017 was 7805.33 TMT which is 1.64% lower than the target for the month and 2.42% lower when compared with July, 2016. Cumulative production by private refineries during April-July, 2017 was 30418.62 TMT which is 2.09% higher than the target for the period and 1.25% higher than the production during corresponding period of last year.
3.4 Refinery-wise details of the capacity utilization and production of petroleum products during the month of July, 2017 and cumulatively for the period April-July, 2017 vis-Ã -vis April-July, 2016 are given at Annexures - IV and V respectively.
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