Oil India's Q1 Gas Output up 2%
State-run Oil India’s natural gas production during the three months to June (Q1 2020) increased 2.30% year on year to 0.71bn m3, the company said August 9 in its quarterly financial statement.
Average natural gas price realisation during Q1 improved to $3.69/mn Btu as against $3.06/mn Btu in the corresponding quarter of last year. Gas sales during the quarter was 0.61bn m3 versus 0.59bn m3 in the year ago period, Oil India said.
Company’ net profit during Q1 was rupees 6.24bn ($85mn) compared with rupees 7.03bn in the same quarter last year, a drop of over 11% year on year.