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India’s crude production falls 3% for 2025-26, government says
The decline marks a third straight fiscal year drop, even as India rolls out a $8.8 billion offshore exploration plan through FY 2030-31.
India’s crude oil production fell by 3% in the 2025/2026 fiscal year ended March 31, 2026, extending a slide for the third consecutive year, the government said in Parliament, according to OilPrice.
The government attributed the drop to natural decline in mature and ageing oil and gas fields.
Oil and Natural Gas Corporation, the country’s biggest explorer, narrowed its annual decline to about 2% through enhanced oil recovery efforts including Improved Oil Recovery and Enhanced Oil Recovery.
To raise output and cut dependence on imports, India is pushing offshore oil and gas exploration, including a National Offshore Exploration Scheme launched last month with $8.8 billion in government support through FY 2030-31, offering financial help of up to 50% of the cost of drilling deepwater exploration wells.
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