NEW DELHI:The production of crude oil in April 1997 was registered at 28.02 lakh tonnes (provisional) as against 27.54 lakh tonnes of production registering a growth of 0.48 lakh tonnes.

The private and joint ventures showed a remarkable increase in production from 6.1 lakh tonnes in April '96 to 14.6 lakh tonnes in April '97, an official release said .

While the production of petroleum in April '97 was 52.16 thousand tonnes (provisional) marking an increase of 0.92 lakh tonnes as against the production of 51.24 lakh tonnes in '96, the production of crude oil and petroleum products in March '97 was also slightly higher at 29.83 and 55.54 lakh tonnes respectively as compared to the April '97 figures, it added.

BoM CMD

MUMBAI: T S Raghavan, has been appointed as the new chairman and managing director of Bank of Maharashtra. He assumed charge on Thursday.

Prior to this assignment, Raghavan was the executive director of Vijaya Bank. An economics post-graduate, Raghavan has been a banker for three decades and worked in the Indian Overseas Bank (IOB) for 32 years where he rose to the position of general manager, a bank press release said.

Gold recovers

MUMBAI: Gold prices recovered on the bullion market today on fresh seasonal demand. Higher London advices also aided the market trend. However, silver declined further on reduced industrial offtake. Standard gold improved by Rs 10 to close at Rs 4770 from Rs 4760 yesterday on good local buying. 22-carat gold was also quoted higher at Rs 4410 from Rs 4405 on fresh support from jewellers. Ten tola gold bar of .999 fineness hardened by Rs 100 to finish at Rs 55,800 compared to Rs 55,700 yesterday.

Silver .999 fineness declined to finish at Rs 6820 from Rs 6870 yesterday. Raw silver of .916 fineness dropped by Rs 50 to settle at Rs 6720 compared to Rs 6770 the previous day.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.