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WSJ:India's Dec Crude-Oil Output Rises, Natural Gas Declines
 
NEW DELHI--India's production of crude oil rose 1.6% in December, while natural gas output continued a downtrend that started about four years ago, federal oil ministry data showed Friday.

Crude-oil output rose to 3.26 million metric tons, or 770,830 barrels a day, the data showed. Still, it missed the government's target of 3.44 million tons for the month.

Maintenance shutdown of some oil wells of state-run Oil & Natural Gas Corp. (500312.BY), the country's largest oil and gas company by output, kept the government from achieving the targeted output, the ministry said.

Natural gas output alo fell 9.9% to 3 billion cubic meters in December, missing the government's estimate of 3.35 billion cubic meters.

India's gas output has been declining mainly because of falling output at Reliance Industries Ltd.'s (500325.BY) Krishna Godavari D6 block off the east coast, the country's largest gas deposit.

The natural gas output was also hit by lower-than-expected production at some wells operated by state-run explorers such as ONGC as well as delays in commissioning of some other projects.

India meets about three-quarters of its energy requirement through imports and a shortfall in local oil and gas output puts pressure on the country to increase its overseas purchases.
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