Oil and gas production from India’s northwestern state of Rajasthan—home to the country’s single biggest oil and gas deposit—has slumped by 40 percent over the past two years, mostly due to the pandemic and its effect on oil demand and prices, officials told Hindustan Times on Friday. Alongside with lower production of oil and gas, the state of Rajasthan saw its revenues from hydrocarbon production decline last year. The area around Barmer is the biggest source of domestic oil and natural gas for India after crude oil and coal were discovered there in 2004. Despite the COVID-induced slump, Indian companies haven’t given up on investment in new production in the Barmer area. State-controlled Oil India, for example, will be investing in oil and natural gas exploration, an official told Hindustan Times. “And upon commencement of production, the state will generate revenue at the rate of 12.5% on mineral oil […]