Oil & Gas

India is the 4^th largest importer of liquefied natural gas (LNG).

India consumed 213.13 MMT petroleum products and 64.14 BCM natural gas in FY 2019-20, marking a growth of 0.4% and 5.5% over the FY 2018-19 consumption levels.  India’s projected oil demand is going to grow at CAGR of 4% during 2016
- 2030 against the world average of 1%, though the projected oil demand will be much lower as compared to the US and China.

• 230 billion-barrel O+OEG conventional hydrocarbons in over 3 mn sq.km area, spread over 26 sedimentary basins, is available for investors
• India aims to reduce oil and gas imports dependence by 10% by 2022
• The total number of fuel retail outlets increased from 18,848 (2002) to 77,094 (2021) at a CAGR of 7.7%
• Present share of natural gas in the energy mix of the country is 6%. The aim is to increase it to 15% by 2030
• 12 Biofuel refineries are planned to be opened with an investment in the oil and gas sector of around $1.9 bn
• GoI is planning to set up around 5,000 compressed biogas (CBG) plants by 2023  under the SATAT scheme
• Ethanol blending in petrol will grow from 5% to 20% by 2030 in India 
• Natural Gas production (weight: 6.88 per cent) increased by 18.9 per cent in July, 2021over July, 2020.
• Petroleum Refinery production (weight: 28.04 per cent) increased by 6.7 per cent in July, 2021 over July, 2020.
• Export of Petroleum Products was valued at $4559.82 bn in August 2021 with a positive growth of 139.78% over exports of $1901.64 bn in August 2020.
• Crude oil production during November 2021 was 2431.44 TMT, which is 6.89% lower than target for the month and 2.22% lower than the production of November 2020.
• Natural gas production during November 2021 was 2869.47 MMSCM, which is 23.09% higher than the production of November 2020 but 12.8% lower than the monthly target.
• Crude Oil Processed during November 2021 was 21483.42 TMT, which is 3.38% higher than November 2020 and 3.49% higher than the target for the month.
• Production of Petroleum Products during November 2021 was 22338.45 TMT, which is 4.26% higher than production of November 2020 and 4.39% higher than target for the month.

100% FDI allowed in exploration activities of oil and natural gas fields under automatic route

49% FDI allowed in petroleum refining by the Public Sector Undertakings (PSU), without any disinvestment or dilution of domestic equity in the existing PSUs under automatic route

100% FDI allowed in infrastructure related to marketing of petroleum products and natural gas, marketing of natural gas and petroleum products, petroleum product pipelines, natural gas/ pipelines, LNG regasification infrastructure,  market study and formulation and petroleum refining in private sector. 

100% FDI allowed in Strategic disinvestment of a PSU with 'in-principle' approval granted by the Government via automatic route

For further details, please refer FDI Policy