Wednesday, November 4, 2009

India Expecting a Rise in Oil and Gas Output

Murli Deora, the minister of Petroleum and Natural Gas, has revealed that India’s output of crude oil will increase by 9.6% to around 734,000 barrels per day. The minister has also said that gas output could also reach at 50.21 billion cubic meters, a 53% increase.

Wall Street Journal reported:

The crude oil output total will be boosted by Cairn India Ltd., a unit of Cairn Energy PLC, which began output at its Mangala oil field in the northwestern state of Rajasthan at the end of August, Murli Deora told reporters.

India’s gas output will be increased mainly because of the increased production at the Krishna Godavari basin, located at the east coast of the country.

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