Global Crude oil price of Indian Basket was US$ 53.47 per bbl on 21.12.2016





Global Crude oil price of Indian Basket was US$ 53.47 per bbl on 21.12.2016

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$ 53.47 per barrel (bbl) on 21.12.2016. This was higher than the price of US$ 53.09 per bbl on previous publishing day of 20.12.2016.

In rupee terms, the price of Indian Basket increased to Rs. 3629.00 per bbl on 21.12.2016 as compared to Rs. 3604.88 per bbl on 20.12.2016. Rupee closed stronger at Rs 67.87 per US$ on 21.12.2016 as against Rs 67.90 per US$ on 20.12.2016. The table below gives details in this regard:

Particulars   
Unit
Price on December 21, 2016
(Previous trading day i.e. 20.12.2016)
Pricing Fortnight for 16.12.2016
(Nov 29, 2016 to Dec 13, 2016)

Crude Oil
(Indian Basket)
($/bbl)
 53.47              (53.09)  
50.85
(Rs/bbl)
3629.00       (3604.88
3460.34
Exchange Rate
(Rs/$)
 67.87              (67.90)
68.05
 


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Production Performance of Oil & Natural Gas Sector for November, 2016

Crude Oil
1.            Crude oil production[1] during November, 2016 was 2875.75 TMT which is 5.65% and 5.40% lower than target and production achieved in November, 2015 respectively. Cumulative crude oil production during April-November, 2016 was 23990.26 TMT which is 1.76% and 3.53% lower than target and production during corresponding period of last year respectively. Unit-wise and state-wise crude oil production is given at Annexure-I. Unit-wise crude oil production for the month of November, 2016 and cumulatively for the period April-November, 2016 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
November (Month)
April-November (Cumulative)
2016-17 (Apr-Mar)
2016-17
2015-16
% over last year
2016-17
2015-16
% over last year
Target
Prod.*
Prod.
Target
Prod.*
Prod.
ONGC
22766.00
1867.15
1823.28
1837.04
99.25
14941.69
14724.49
14983.60
98.27
OIL
3480.00
291.79
269.46
264.88
101.73
2200.80
2149.87
2180.49
98.60
PSC Fields
10839.32
888.94
783.01
937.92
83.48
7278.42
7115.90
7704.10
92.37
Total
37085.32
3047.88
2875.75
3039.84
94.60
24420.91
23990.26
24868.19
96.47
            *: Provisional





Figure-1: Monthly Crude Oil Production


Unit-wise production details with reasons for shortfall have been given in following sub-sections:

1.1              Crude oil production by ONGC during November, 2016 was 1823.28 TMT which is 2.35% lower than the monthly target and 0.75% less when compared with November, 2015. Cumulative crude oil production during April-November, 2016 was 14724.49 TMT which is 1.45% lower than target for the period and 1.73% lower than the production during corresponding period of last year Reasons for shortfall in production are as under:

Ø  Natural decline from matured & marginal fields of Mumbai high.
Ø  Operational loss in Bassein due to suspected wax deposition & choking in B-193 export pipeline

1.1        Crude oil production by OIL during November, 2016 was 269.46 TMT which is 7.65% lower than monthly target but 1.73% higher than production in November 2015. Cumulative crude oil production during April-November, 2016 was 2149.87 TMT which is 2.31% lower than target for the period and 1.40% lower than the production during corresponding period of last year. The major reason for shortfall in production was less than planned contribution from high producing areas like Greater Hapjan, Greater Chandmari and Nahorkatiya fields, primarily on account of rise in water cut.

1.2        Crude oil production by Pvt. /JVs during November, 2016 was 783.01 TMT which is 11.92% lower than the monthly target and 16.52% lower than November, 2015. Cumulative crude oil production during April-November, 2016 was 7115.90 TMT which is 2.23% lower than target for the period and 7.63% lower than the production during corresponding period of last year. Reasons for shortfall in production are as under:

Ø  RJ-ON-90/1: Planned shutdown at Mangala Processing Terminal; High Water cut in wells of Bhagyam field & Natural Decline of Mangala wells.
Ø  Natural Decline in Ravva &CB-OS/2.
Ø  Panna-Mukta: PC platform shutdown due to riser integrity issue.
Ø  Closure of 1 well in MA field in KG-DWN-98/3.
Ø  CY-ONN-2002/2: Under Test Production.
Ø  Underperformance of KG- OSN-2001/3.

Natural Gas
2              Natural gas production during November 2016 was 2669.89 MMSCM which is 7.46% lower than the target for the month and 1.71% lower than the production in November, 2015. Cumulative natural gas production during April-November, 2016 was 21148.54 MMSCM which is 4.40% lower than target for the period and 3.70% lower 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 November, 2016 and cumulatively for the period April-November, 2016 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
November (Month)
April-November (Cumulative)
2016-17 (Apr-Mar)
2016-17
2015-16
% over last year
2016-17
2015-16
% over last year
Target
Prod.*
Prod.
Target
Prod.*
Prod.
ONGC
22743.43
1939.72
1866.93
1776.83
105.07
14683.51
14493.50
14453.15
100.28
OIL
2950.03
243.26
244.91
255.66
95.80
2013.68
1965.06
1853.96
105.99
PSC Fields
8425.44
702.00
558.04
683.82
81.61
5424.83
4689.98
5653.05
82.96
Total
34118.90
2884.98
2669.89
2716.31
98.29
22122.03
21148.54
21960.16
96.30

   *: Provisional

Figure-2: Monthly Natural Gas Production



2.1        Natural gas production by ONGC during November, 2016 was 1866.93 MMSCM which is 3.75% lower than the monthly target but 5.07% higher when compared with November, 2015. Cumulative natural gas production during April-November, 2016 was 14493.50 MMSCM which is 1.29% lower than the cumulative target but 0.28% higher than the production during the corresponding period of last year. Shortfall in production vis-à-vis target was mainly due to decline in reservoir pressure in Bassein field.

2.2        Natural gas production by OIL during November, 2016 was 244.91 MMSCM which is 0.68% higher than the monthly target but 4.20% lower than November, 2015. Cumulative natural gas production during April-November, 2016 was 1965.06 MMSCM which is 2.41% lower than the cumulative target but 5.99% higher than the production during the corresponding period of last year. Shortfall in production against target was mainly due to decline in production potential in a few high producing gas wells due to unexpected subsurface problems like water and sand ingress.
2.3    Natural gas production by Pvt. /JVs during November, 2016 was 558.04 MMSCM which is 20.51% lower than the monthly target and 18.39% less when compared with November, 2015. Cumulative natural gas production during April-November, 2016 was 4689.98 MMSCM which is 13.55% lower than the cumulative target and 17.04% lower than the production during the corresponding period of last year. Reasons for shortfall in production are as under:
Ø  Closure of 1 well in MA and 1 well in D1D3 field in KG-DWN-98/3.
Ø  Panna-Mukta: PC platform shutdown due to riser integrity issue.
Ø  RJ-ON-90/1: Planned shutdown at Mangala Processing Terminal.
Ø  Increase in Water cut in few wells in RJ-ON/6.
Ø  Production from M&S TAPTI stopped in March, 2016.
Ø  Natural Decline in Ravva.
Ø  Underperformance of wells in KG- OSN-2001/3.
Ø  Sohagpur West: Production not increased upto the target envisaged.
Ø  Raniganj East CBM block: Extended dewatering hampering production.

Refinery Production (in terms of Crude oil processed)

3        Refinery production during November, 2016 was 19915.92 TMT which is 3.30% lower than the target for the month but 1.98% higher than the production during corresponding period of last year. Cumulative production during April-November, 2016 was 162444.57 TMT which is 2.03% higher than the target for the period and 8.01% 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 November, 2016 and cumulatively for the period April-November, 2016 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
November (Month)
April-November (Cumulative)
2016-17 (Apr-Mar)
2016-17
2015-16
% over last year
2016-17
2015-16
% over last year
Target
Prod.*
Prod.
Target
Prod.*
Prod.
PSUS
135565.03
11712.08
11446.99
10547.21
108.53
89780.51
90658.32
81109.46
111.77
IOCL
65100.00
5464.89
5145.83
4799.42
107.22
42882.00
42421.74
36755.61
115.42
BPCL
25250.15
2210.99
2233.54
2023.53
110.38
16690.65
17031.25
15846.30
107.48
HPCL
16800.29
1444.93
1534.66
1481.14
103.61
11242.45
11575.63
10969.37
105.53
CPCL
10250.00
903.17
863.44
741.43
116.46
7356.79
7419.24
6290.57
117.94
NRL
2670.00
259.17
262.88
218.68
120.21
1759.84
1703.56
1617.97
105.29
MRPL
15450.00
1425.00
1399.54
1276.17
109.67
9820.00
10450.86
9591.03
108.97
ONGC
44.59
3.93
7.09
6.84
103.64
28.78
56.04
38.62
145.12
JVs
15000.00
1295.34
925.24
1409.14
65.66
10165.42
11125.93
11482.95
96.89
BORL
6000.00
525.00
170.78
501.00
34.09
3900.00
4054.19
4158.60
97.49
HMEL
9000.00
770.34
754.46
908.14
83.08
6265.42
7071.73
7324.35
96.55
Private
89852.65
7588.21
7543.69
7572.07
99.63
59273.69
60660.32
57805.17
104.94
RIL
69561.01
5878.22
5816.97
5878.22
98.96
45707.74
46646.84
45707.74
102.05
EOL
20291.64
1709.99
1726.72
1693.85
101.94
13565.95
14013.48
12097.42
115.84
TOTAL
240417.68
20595.63
19915.92
19528.42
101.98
159219.62
162444.57
150397.58
108.01

            *: Provisional

Figure 3: Monthly Refinery Production

 

3.1    PSU Refineries’ production during November, 2016 was 11446.99 TMT which is 2.26% lower than the target for the month but 8.53% higher than the production achieved in the corresponding month of last year. Cumulative production during April-November, 2016 was 90658.32 TMT which is 0.98% higher than the target for the period and 11.77% higher than the production during corresponding period of last year. Reasons for shortfall of refinery production in some PSU refineries are as under:
v  IOCL, Paradip: Throughput lower due to coke upliftment issue.
v  IOCL, Digboi: Guwahati: Lower availability of Assam crude.
v  IOCL, Mathura: Lower throughput due to advancement of DHDT shutdown to Nov-Dec'16 originally planned in December '16.
v  CPCL, Manali: Crude throughput was lower than Target due to deferment of DHDT shutdown from Oct'16 to Nov'16.
v  CPCL, CBR: Crude throughput was lower than target due to HSD containment (lower offtake of HSD) & non-availability of Crude (Narimanam & KG-D6).
v  NRL, Numaligarh: Delay in startup after shutdown.

3.2    Production in JV refineries during November, 2016 was 925.24 TMT which is 28.57% lower than the target for the month and 34.34% lower than the production achieved in the corresponding month of last year. Cumulative production during April-November, 2016 was 11125.93 TMT which is 9.45% higher than the target for the period and 3.11% lower than the production during corresponding period of last year. Reasons for shortfall of refinery production in JVs refineries are as under:
v  BORL’s Bina: Throughput was lower than plan as refinery had undertaken planned turnaround during the month, which was originally scheduled in Aug-Sep'16.
v  HMEL’s Bhatinda: The throughput is as per the optimized monthly plan.
3.3    Production in private refineries during November, 2016 was 7543.69 TMT which is 0.59% lower than the target for the month and 0.37% lower than the production achieved in the corresponding month of last year. Cumulative production during April-November, 2016 was 60600.32 TMT which is 2.34% higher than the target for the period and 4.94% 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 November, 2016 and cumulatively for the period April-November, 2016 vis-à-vis April-November, 2015 are given at Annexures-IV and V respectively.

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Global Crude oil price of Indian Basket was US$ 53.47 per bbl on 21.12.2016 Global Crude oil price of Indian Basket was US$ 53.47 per bbl on 21.12.2016 Reviewed by Ajit Kumar on 4:20 PM Rating: 5

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