INDIA'S OIL, GAS SUPPLY/DEMAND PICTURE BEGINS TO TAKE SHAPE

India's oil and gas supply/demand picture for the current fiscal year is taking shape. The country is expected to produce 560,000-580,000 b/d of crude oil and about 1.8 bcfd of natural gas in fiscal 1992-93, Indian Petroleum Minister B. Shankaranand told Parliament. Of that total, the Bombay offshore area will account for about 300,000 b/d of crude and about 1.3 bcfd of gas. On the demand side, more than 630 MMcfd of production for the fiscal year has been allocated to gas based industries

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