Output by India's oil firms in January fell at its fastest pace in nearly four years, slipping 2.6 percent from a year ago, as weakening global demand for fuels slashed runs at the world's largest refining hub. Refiners processed 3.149 mn barrels per day (bpd) of crude in January, compared to 3.233 mn bpd a year earlier. In May 2005, throughput slumped an annual 6.1 percent. Combined crude processing at Reliance Industries' two export-focused plants at
Reliance commissioned its new 580,000 bpd plant in December, turning
Crude oil output during the month was down 8.1 percent at 628,960 bpd, the data showed.
Gas output was 31.1 percent below the government's target due to delay in production from Reliance's eastern offshore field in the Krishna Godavari basin, the government said. Output from the fields is due to begin this month.
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