Millennium Post
Business

Vedanta produces record oil, more zinc, less iron ore and copper

Mining major Vedanta Resources on Wednesday said that its crude oil production has increased to a record 2,13,299 barrels of oil equivalent per day (BOEPD) in the quarter ended 30 September. However, iron ore, copper and lower power sales affected its overall performance.

The company, whose majority of operations are in India, reported rise in production of refined zinc (21 per cent), refined lead (17 per cent), silver (7 per cent) and aluminium businesses (2 per cent). In a statement, Vedanta said it has also completed its group restructuring exercise, which was announced in February, 2012. Accordingly, a new entity, Sesa Sterlite, has been created by merging Sterlite Industries into Sesa Goa.

Some other group firms have also been merged or made part of Sesa Sterlite following the exercise. Talking about its oil and gas business, the company said it has increased by 3 per cent to 2,13,299 BOEPD in the last quarter, primarily due to increase in its Rajasthan and Cambay basin oil blocks. Vedanta, which runs the crude oil exploration business through group firm Cairn India, had reported a daily production of 2,07,245 barrels in the July-September quarter of the last fiscal.
Next Story
Share it