Short notes on the Trends of Production of petroleum

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India contributes about percent of the total crude oil production of the world. The total crude oil production was 2.69 lakh tones in I95l which was hardly sufficient to meet 8 per cent of the country’s demand. With the beginning of oil production in Nahorkatiya region the crude oil production in­creased to 5.13 lakh tones recording a net gain of 90.7% during 1951 -61. Later on with the discovery of oil in the Gujarat region there was 14 times increase in crude oil production during 1961-71.

This enabled country to fulfill 38 per cent of its demands for crude oil. The Bombay High oil field started production in 1976 as a result of which crude oil production rose to 14.93 million tons in 1981 exhibiting a growth rate of 108% over 1971. During 1981-86 the inland crude oil production was dou­bled while offshore oil production was quadrupled reaching its record high of 34.1 million tons in 1989-90 which enabled country to meet 63% of its demand by internal production.

It came down to 33 million tons in the following year (1990-91). Since then there was gradual decline in crude oil production between 1991-94 falling down to 26.95 million tons in 1992-93. Although it reached 34.5 million tons in 1995-96 but the fluctuation is continuing (32.9 million tons in 1996-97 and 33.9 million tons in 2004-05 due to depleting potentials of old fields and lack of new findings.

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Trends of Crude Oil Production in India (lakh tones) Years Production Consumption Self

Source: Statistical Abstract India, 2003, p. 73 and Economic Survey, 2005-06

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