Page 42 - Policy Economic Report - March 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Key developments in Oil & Gas sector

Monthly Production Report for February 2026

1. Production of Crude Oil

Indigenous crude oil and oil equivalent gas production during February 2026 was 4.7 MTOE with a de-
growth of 4.8%. Compared with the corresponding period of the previous year cumulatively crude oil
and oil equivalent gas production recorded was 57.5 MTOE with a de-growth of 3.1%.

2. Production of Natural Gas

Gross production of natural gas for the month of February 2026 (P) was 2613 MMSCM which was lower
by 4.9% compared with the corresponding month of the previous year.

3. Crude Oil Processed (Crude Throughput)

Total Crude oil processed during February 2026 was 21.9 MMT which is 0.9% higher than February 2025,
out of which PSU/JV refiners processed 15.1 MMT and private refiners processed 6.8 MMT of crude oil.
Total indigenous crude oil processed was 2 MMT and total Imported crude oil processed was 19.9 by all
Indian refineries (PSU+JV+PVT). There was a growth of 1.6% in total crude oil processed in April-
February current Financial Year as compared to same period of previous Financial Year.

4. Production of Petroleum Products

Production of petroleum products was 22.5 MMT during February 2026, which is -0.4% lower than
February 2025. Out of 22.5 MMT, 22.2 MMT was from refinery production & 0.3 MMT was from
fractionator. There was a growth of 0.3% in production of petroleum products in April-February FY 2025
– 26 as compared to same period of FY 2024 – 25. Out of total POL production, in February 2026, share
of major products including HSD is 42.5%, MS 17.1%, Naphtha 6.3%, ATF 5.3%, Pet Coke 5.4%, LPG 4.7%,
and rest is shared by Bitumen, FO/LSHS, LDO, Lubes & others.

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