The petroleum and natural gas sector is among the eight core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. India’s economic growth is closely related to energy demand; therefore the need for oil and gas is projected to grow more, thereby making the sector quite conducive for investment.
India consumed 204.92 MMT petroleum products and 58.64 BCM natural gas. The import dependency of crude oil and LNG during 2018 was 82.59% and 45.89% respectively. During 2018, petroleum import bill was $ 112 bn, a growth of 27% over $ 88 bn during 2017 - 18, and 23.42% of total gross import of the nation.
100% FDI in petroleum and natural gas is allowed in exploration activities under automatic route.
49% FDI in petroleum sector is allowed in by the Public Sector Undertakings (PSU), without any disinvestment or dilution of domestic equity in the existing PSUs under automatic route.
India's share in LNG imports
Oil consumption CARG(2008-17)
Gas consumption CARG(2007-16)
LPG sales growth(2016-17)
Largest exporter of petroleum products in Asia
2nd largest refiner in Asia
3rd largest consumer of crude oil and petroleum products in the world
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