India’s largest oil, gas deposit decreases by 40% | OilPrice.com

In the past two years, oil and gas production in India’s northwestern state of Rajasthan, where the country’s largest oil and gas reserves are located, has largely been affected by the epidemic and the impact on oil demand and prices, officials told Hindustan. Times Friday.

Along with low oil and gas production, the state of Rajasthan saw a decline in hydrocarbon production last year.

After the discovery of crude oil and coal in 2004, it is India’s largest domestic oil and natural gas source in the Bermer area.

Despite the decline in COVID-induced, Indian companies have not given up on investing in new products in the Barmer area. For example, state-owned oil India will invest in oil and natural gas exploration, an official told the Hindu Times.

“At the start of production, the state will generate 12.5% ​​of the country’s oil and 10% of its natural gas production,” he said.

Meanwhile, India’s oil demand is recovering from the Covenant storm in the spring, and by mid-August, there is a darkening trend in the rest of Asia.

India’s oil consumption recovery was an unusually bright data in the first half of August, with China, Japan and Southeast Asia battling a resurgence of CVI with key locks and emergency measures to reduce demand.

India’s oil sales rose 3.7 percent in the first two weeks of August compared to the same period in pre-2019, Bloomberg reported on Tuesday, citing preliminary data from three of the country’s largest oil retailers. According to Bloomberg, diesel sales – the most widely used fuel in India – fell 8 percent compared to 2019, but were still higher than July 2021.

By Tsvetana Paraskova for Oilprice.com

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