India’s crude output expected to rise by 21 % in 2013-14
India's crude oil production is likely to jump by 21 % to 45.57 mm tons in 2013-14 vis-a-vis 2010-11 on the back of output from newer fields like the Rajasthan block of Cairn India, said Oil Minister S. Jaipal Reddy.
The nation produced 37.68 mm tons of crude oil in 2010-11, which is expected to rise to 38.18 mm tons during the current fiscal, he said.
The output is expected to further rise to 42.30 mm tons in 2012-13 and to 45.57 mm tons in 2013-14, he said.
India is reliant on imports to meet 79 % of its crude oil needs.
The biggest contributor is likely to be Cairn India, whose Rajasthan block is currently producing 125,000 bpd, or 6.25 mm tpy. The block is projected to produce 240,000 bpd, or 12 mm tons, by 2013-14.
Reddy said natural gas production will rise by 18 % to 61,652 bn cm by 2013-14 from 52,221 bn cm in 2010-11.
Gas production is expected to drop to 51,671 bn cm this fiscal on account of lower output from Reliance Industries' eastern offshore KG-D6 fields.
However, it will recover to 52,276 bn cm in 2012-13.
What is more, the country's oil refining capacity is projected to increase to 240,6 mm tpy by 2013-14 from 193,386 mm tons in 2010-11, he said.
The increase in capacity would primarily come from the 15 mm tpy refinery Indian Oil Corp (IOC) is building at Paradip, in Orissa, and the soon-to-be- commissioned, 9 mm tpy Bhatinda unit being set up by a joint venture between Hindustan Petroleum (HPCL) and steel baron Lakshmi Mittal.
Reddy noted that in the current year, a 6 mm tons refinery at Bina, in Madhya Pradesh, has been commissioned by a joint venture of Bharat Petroleum (BPCL) and Oman Oil Co.
He also stated, "HPCL has commissioned a study on pre-project activities for a 9 mm tons grassroot refinery at Ratnagiri district, in Maharashtra."
India, which probably has the largest number of petrol pumps in the world, is likely to see the number of fuel retail outlets rise to 45,530 in 2013-14 from 39,430 in 2010-11.
Reddy said the number of LPG consumers is also likely to rise to 15.58 crore in 2013-14 from 12.69 crore in 2010-11.
To a separate question, Minister of State for Petroleum and Natural Gas R P N Singh said India's natural gas demand stood at 262,07 mm cmpd in 2010-11.
Against this, supply was only 163,36 mm cmpd. Of the 163,36 mm cmpd supply, 126,16 mm cmpd came from indigenous gas fields and the remaining 37.2 mm cmpd was imported in the form of liquefied natural gas (LNG), he said.