INDIA MULLS OUTPUT CUTS

India's government is mulling requests from its state oil companies to slash production targets for fiscal 1991-92 by more than 100,000 b/d. The production cuts will hike India's oil import bill by $4 billion in the period. Oil & Natural Gas Commission wants its target cut to 560,000 b/d from 660,000 b/d, citing shut-ins recommended by the government to cut flaring of offshore associated gas and delays in start-ups of several offshore fields. Oil India Ltd. wants its target cut to

May 27, 1991

India's government is mulling requests from its state oil companies to slash production targets for fiscal 1991-92 by more than 100,000 b/d.

The production cuts will hike India's oil import bill by $4 billion in the period. Oil & Natural Gas Commission wants its target cut to 560,000 b/d from 660,000 b/d, citing shut-ins recommended by the government to cut flaring of offshore associated gas and delays in start-ups of several offshore fields. Oil India Ltd. wants its target cut to 56,000 b/d from 62,000 b/d, citing civil strife in Assam state and deepening decline rates in mature areas.