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Global Crude oil price of Indian Basket was US$ 55.51 per bbl on 21.09.2017



Global Crude oil price of Indian Basket was US$ 55.51 per bbl on 21.09.2017
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$ 55.51 per barrel (bbl) on 21.09.2017. This was higher than the price of US$ 54.93 per bbl on previous publishing day of 20.09.2017.

In rupee terms, the price of Indian Basket increased to Rs. 3581.88 per bbl on 21.09.2017 as compared to Rs. 3535.42 per bbl on 20.09.2017. Rupee closed weaker at Rs. 64.53 per US$ on 21.09.2017 as compared to Rs. 64.36 per US$ on 20.09.2017. The table below gives details in this regard:
Particulars
Unit
Price on September 21,  2017 (Previous trading day i.e. 20.09.2017)
Crude Oil (Indian Basket)
($/bbl)
             55.51           (54.93)
(Rs/bbl)
            3581.88        (3535.42)
Exchange Rate
(Rs/$)
             64.53           (64.36)

Daily Crude Oil Price       
 ***** 
Production Performance of Oil & Natural Gas Sector for August, 2017

Crude Oil
1.             Crude oil production[1] during August, 2017 was 3019.94 TMT which is 4.93% lower than target and 1.56% lower when compared with August 2016. Cumulative crude oil production during April-August, 2017 was 15104.60 TMT which is 3.11% lower than target for the period and 0.27% lower 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 August, 2017 and cumulatively for the period April-August, 2017 vis-à-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
August (Month)
April-August (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
1956.69
1898.47
1865.31
101.78
9569.08
9457.74
9225.22
102.52
OIL
3734.00
316.98
288.48
272.08
106.03
1564.87
1416.81
1342.94
105.50
PSC Fields
10562.00
903.03
832.98
930.42
89.53
4455.49
4230.06
4578.05
92.40
Total
37367.00
3176.70
3019.94
3067.80
98.44
15589.44
15104.60
15146.22
99.73
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 August, 2017 was 1898.47 TMT which is 2.98% lower than the monthly target but 1.78% higher when compared with August, 2016. Cumulative crude oil production by ONGC during April-August, 2017 was 9457.74 TMT which is 1.16% lower than target for the period but 2.52% higher than production during corresponding period of last year. Reasons for shortfall in production are as under:
Ø Offshore: Natural decline and increase in water cut from matured fields of Western Offshore. Due to severe monsoon and harsh weather conditions, wells at unmanned platforms could not be attended / monitored which affected regular operations like Gas Lift De-optimization, ESP failure & minimum well monitoring / stimulation etc.
Ø Onshore: Power shut down in Mehsana (heavy rain) and Assam Assets.

1.2        Crude oil production by OIL during August, 2017 was 288.48 TMT which is 8.99% lower than monthly target but 6.03% higher than production in August, 2016. Cumulative crude oil production by OIL during April-August, 2017 was 1416.81 TMT which is 9.46% lower than target for the period but 5.50% 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 August, 2017 was 832.98 TMT which is 7.76% lower than the monthly target and 10.47% lower than August, 2016. Cumulative crude oil production by Pvt/JVs during April-August, 2017 was 4230.06 TMT which is 5.06% lower than target for the period and 7.60% 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 120 wells are closed either due to high water cut or require WOJ. Poor reservoir performance of Bhagyam. Production stopped from Guda, Kaameshwari West, Raageshwari and Saraswati due to non-availability of tanker since July’17.
Ø Panna-Mukta (Shell): Certain wells closed due to integrity issues in Aug’17. Also, natural decline in Panna-Mukta.
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 August, 2017 was 2772.94 MMSCM which is 5.38% lower than the target for the month but 3.69% higher when compared with August, 2016. Cumulative natural gas production during April-August, 2017 was 13689.67 MMSCM which is 5.39% lower than target for the period but 4.31% 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 August, 2017 and cumulatively for the period April-August, 2017 vis-à-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
August (Month)
April-August (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
1992.35
1953.25
1845.50
105.84
9884.16
9737.62
8841.62
110.13
OIL
3000.00
264.97
261.47
244.05
107.14
1273.19
1235.22
1230.88
100.35
PSC Fields
8034.00
673.18
558.22
584.59
95.49
3312.04
2716.83
3050.93
89.05
Total
35242.00
2930.51
2772.94
2674.15
103.69
14469.39
13689.67
13123.43
104.31
Note:  Totals may not tally due to rounding off.                                      *: Provisional

Figure-2: Monthly Natural Gas Production
 


2.1         Natural gas production by ONGC during August, 2017 was 1953.25 MMSCM which is 1.96% lower than the monthly target and 5.84% higher when compared with August, 2016. Cumulative natural gas production by ONGC during April-August, 2017 was 9737.62 MMSCM which is 1.48% lower than the cumulative target but 10.13% higher than the production during the corresponding period of the last year Reasons for shortfall in production are as under:

Ø Offshore: Bassein field gas production from BPB installation affected (13th -29th Aug’17) for rectifying pipeline gas leakage from 24 inch discharge line.
Ø Onshore: OTPC, Tripura plant shut down for 20 days since 19.08.2017.



2.2        Natural gas production by OIL during August, 2017 was 261.47 MMSCM which is 1.32% lower than the monthly target but 7.14% higher than August, 2016. Cumulative natural gas production by OIL during April-August, 2017 was 1235.22 MMSCM which is 2.98% lower than the cumulative target but 0.35% higher 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 gas turbines of RRVUNL.

2.3        Natural gas production by Pvt/JVs during August, 2017 was 558.22 MMSCM which is 17.08% lower than the monthly target and 4.51% lower when compared with August, 2016. Cumulative natural gas production by Pvt/JVs during April-August, 2017 was 2716.83 MMSCM which is 17.97% lower than the cumulative target and 10.95% lower than the production during the corresponding period of last year. Reasons for shortfall in production are as under:

Ø Underperformance of wells in KG- OSN-2001/3 (GSPC)
Ø Sohagpur West (RIL): Underperformance of CBM wells.
Ø Raniganj East (Essar): Few wells closed for planned maintenance and refrac jobs
Ø AAP-ON-94/1 (HOEC): Production deferred due to delay in grant of PML. Production commenced from 26th Aug’17
Ø RJ-ON-90/1 (CIL): Around 120 wells are closed either due to high water cut or require WOJ.
Ø Closure of 2 wells in D1D3 field and 1 well in MA field in KG-DWN-98/3  (RIL).


3.        Refinery Production (in terms of crude oil processed)

Refinery production during August, 2017 was 20451.48 TMT which is 4.36% higher than the target for the month and 0.79% higher when compared with August, 2016. Cumulative production during April-August, 2017 was 101881.81 TMT which is 4.02% higher than the target for the period and 0.10% higher than the production during corresponding period of last year. Unit-wise production is given at Annexure-III. Company-wise production for the month of August, 2017 and cumulatively for the period April-August, 2017 vis-à-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
August (Month)
April-August (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
10552.05
11197.45
10985.15
101.93
55071.56
58851.85
56599.51
103.98
IOCL
65750
4814.00
5293.07
4953.45
106.86
25503.00
28191.72
26736.96
105.44
BPCL
27000
2150.00
2128.41
2150.36
98.98
10500.00
10866.36
10485.93
103.63
HPCL
17309
1323.53
1575.77
1253.23
125.74
7060.63
7630.03
7152.95
106.67
CPCL
10300
932.47
944.76
1006.67
93.85
4439.59
4507.82
4645.52
97.04
NRL
2670
226.65
233.25
239.04
97.58
1119.01
1176.76
1163.62
101.13
MRPL
16000
1100.00
1017.27
1376.01
73.93
6425.00
6448.29
6380.23
101.07
ONGC
62
5.40
4.93
6.40
77.02
24.32
30.87
34.29
90.02
JVs
15201
1345.00
1507.39
1521.67
99.06
5376.00
4864.70
7358.17
66.11
BORL
6000
525.00
620.35
587.60
105.57
2625.00
3004.83
2771.82
108.41
HMEL
9201
820.00
887.04
934.07
94.97
2751.00
1859.87
4586.34
40.55
Private
90480
7699.47
7746.64
7783.51
99.53
37495.57
38165.26
37826.87
100.89
RIL
70174
6002.57
5967.65
6002.57
99.42
29068.16
29489.23
29068.16
101.45
EOL
20306
1696.90
1778.99
1780.94
99.89
8427.41
8676.04
8758.71
99.06
TOTAL
244771
19596.52
20451.48
20290.32
100.79
97943.12
101881.81
101784.55
100.10
Note: Totals may not tally due to rounding off.                       *: Provisional
               

Figure 3: Monthly Refinery Production
 


3.1         CPSE Refineries’ production during August, 2017 was 11197.45 TMT which is 6.12% higher than the target for the month and 1.93% higher than the production achieved in the corresponding month of last year. Cumulative production by CPSE refineries during April-August, 2017 was 58851.85 TMT which is 6.86% higher than the target for the period and 3.98% 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, Panipat: Throughput lower due to deferment of M&I shutdown from Jul’17 to Jul-Aug’17.
Ø IOCL, Bongaigaon: High product stock due to restriction in rake movement on account of floods in Assam/Bihar/Bengal.
Ø BPCL, Mumbai:  Lower due to planned outage of CDU3/Hydrogen / Hydrocracker units’ turnaround for revamp.
Ø MRPL, Mangalore: Advancement of planned shutdown by 3 days for turnaround of DCU and CDU-1.

3.2    Production in JV refineries during August, 2017 was 1507.39 TMT which is 12.07% higher than the target for the month but 0.94% lower than the production achieved in the corresponding month of last year. Cumulative production by JVs refineries during April-August, 2017 was 4864.70 TMT which is 9.51% lower than the target for the period and 33.89% lower than the production during corresponding period of last year.
3.3    Production in private refineries during August, 2017 was 7746.64 TMT which is 0.61% higher than the target for the month but 0.47% lower when compared with August, 2016. Cumulative production by private refineries during April-August, 2017 was 38165.26 TMT which is 1.79% higher than the target for the period and 0.89% 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 August, 2017 and cumulatively for the period April-August, 2017 vis-à-vis April-August, 2016 are given at Annexures - IV and V respectively.

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