Coal, Crude oil, Natural Gas and Refinery Products. How these sectors performed in April 2020.

Coal:

The production of coal in April stood at 47 MT with a fall of 15.46% vs 4% in March 2020. The imports of coal decreased by 29.1% at ₹18.65 MT in April 2020, whereas in April 2019 it stood at 26.34 MT. The fall in the month of April 2020 is due to rise of the pandemic. The coal imports observed a fall of 6.18% in April 2020 over the preceding month. Out of the total imports of coal in April 2020, the volume of non-coking coal stood at 13.05 MT vs. 13.6 MT in the preceding month whereas the volume of cooking imports coal stood at 3.3 MT in April 2020. The total coal import for FY20 stood at 247.1 MT vs. 235.35 MT in FY19, with an increase of 5%. The key coal consumption sector is struggling with poor demand as a result of the lock down and the low capacity of plants. This resulted in a decline of demand for coal. In order to raise coal demand, the government has announced a range of steps such as an expanded availability of dry fuel for linkage consumers. It has also announced a number of relief measures, including the power sector, for CIL consumers.

Crude oil:

The production of crude oil in April 2020 stood at 2.5 MT vs. 2.7 MT in April 2019 with a fall of 6.35%. The production in April was 1.44% less than the monthly target. The target was 2,583.03 TMT whereas production was of 2,545.81 TMT. Crude oil production by ONGC stood at 1,681.77 TMT in April 2020 vs. 1,690.78 TMT in April 2019 with a fall of 0.53%. It was less by 0.65% to achieve the monthly target of 1,692.83 TMT in April 2020. Crude oil production by Oil India Limited stood at 248.25 TMT in April 2020 vs. 250.52 TMT in April 2019 with a fall of 6.39%. It was less by 0.9% to achieve the monthly target of 250.52 TMT in April 2020. Crude oil production by PSC Fields stood at 615.80 TMT in April 2020 vs. 639.68 TMT in April 2019 with a fall of 19.25%. It was less by 3.73% to achieve the monthly target of 639.68 TMT in April 2020.

Natural Gas:

The production of Natural gas in April 2020 stood at 2,161.33 MMSCM vs. 2,655.89 MMSCM in April 2019 with a fall of 10.88%. The production in April was 10.88% less than the monthly target, the target was 2,425.32 MMSCM. Natural gas production by ONGC stood at 1,725.69 MMSCM in April 2020 vs. 2,037.71 MMSCM in April 2019 with a fall of 15.31%. It was less by 12.73% to achieve the monthly target of 1,977.42 MMSCM in April 2020. Natural gas production by Oil India Limited stood at 202.05 MMSCM in April 2020 vs. 224.49 MMSCM in April 2019 with a fall of 9.9%. It was less by 4.64% to achieve the monthly target of 211.88 MMSCM in April 2020. Natural gas production by PSC Fields stood at 233.59 MMSCM in April 2020 vs. 393.70 MMSCM in April 2019 with a fall of 40.67%. It was less by 1.03% to achieve the monthly target of 236.02 MMSCM in April 2020.

Refinery Products:

The production of Refinery products in April 2020 stood at 14,745.18 MT vs. 2,20,703.06 MT in April 2019 with a fall of 28.78%. The production in April was 22.01% less than the monthly target, the target was 18907.44 TMT. Refinery Products production by CPSE Refineries stood at 7,103.76 TMT in April 2020 vs. 11,263.33 TMT in April 2019 with a fall of 36.93%. It was less by 28.91% to achieve the monthly target of 9,992.36 TMT in April 2020. Refinery Products production by JV Refineries stood at 925.13 TMT in April 2020 vs. 1,721.66 TMT in April 2019 with a fall of 46.26%. It was less by 22.71% to achieve the monthly target of 1197 TMT in April 2020. Refinery Products production by Private Refineries stood at 6,716.28 TMT in April 2020 vs. 7,718.08 TMT in April 2019 with a fall of 12.98%. It was less by 12.98% to achieve the monthly target of 7,718 TMT in April 2020.

Weekly market update (26th May – 29th May).