Question : Production and Import of Crude Oil

(a) the quantum and value-wise crude oil being produced and imported in terms of rupee and dollar during the last three years and the current year from various countries including Middle East Countries/ Saudi Arabia, country-wise;
(b) whether there is sharp decline in the prices of crude oil in the international market and if so, the details thereof along with future plan/estimate prepared by Petroleum, Planning and Analysis Cell in this regard including to increase the import/ storage of crude oil in the country;
(c) whether the Government has set any target for making the country self- reliant in the production of natural gas and if so, the details thereof along with the steps taken/being taken in this regard;
(d) the quantum of natural gas production from D6 block of Krishna Godavari Basin and the extent to which it has been able to meet the domestic demand; and
(e) whether indigenously produced crude oil is sold to the refineries at global market price and if so, the details thereof along with the average price at which crude oil was sold to the refineries during the last three years and the current year, year-wise?

MINISTER OF MINISTRY OF PETROLEUM & NATURAL GAS (SHRI DHARMENDRA PRADHAN)
(a): The quantum of crude oil produced in the country, the quantity of crude oil imported along with expenditure incurred thereon in terms of rupees crore and billion dollar and the details of various countries including Middle East/Saudi Arabia from where the crude oil has been imported during the last three years and the current year are given in Annexure-I to Annexure-III respectively.
(b):The average crude oil price per barrel of Indian basket in the international market during the current year has been US$ 56.22 in comparison to last year’s average price of US $ 47.56.
As per the information available with PPAC the forecasted price for Brent crude oil for 2018 varies between US$ 60 to US$70 per barrel.
(c) Government has taken several steps to enhance natural gas production in the country which include inter-alia Discovered Small Field Policy, Hydrocarbon Exploration Licensing Policy (HELP), launch of 1st bidding round under Open Licensing Policy (OALP), National Seismic Programme for un-appraised areas, gas pricing reforms, reform initiatives to enhance domestic production (including inter-alia extension of Production Sharing Contracts for small and medium size fields, early monetization of hydrocarbon discoveries, policy on testing requirements for discoveries in NELP blocks), permission of extraction of Coal Bed Methane (CBM) to Coal India Limited and its subsidiaries in coal mining areas, operationalizing National Data Repository (NDR) and grant of Marketing Freedom for gas produced from difficult areas.
(d) The domestic natural gas production in the current financial year (up to February, 2018) was 29029 MMSCM out of which KG D6 share was 1684.22 MMSCM.
(e) The price of indigenous crude oil is benchmarked based on crudes like Bonny light and Tapis blend. The details of crude price realization by ONGC and OIL during last three years and the current year are given in Annexure-IV.
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