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Oil and Gas: Jul 2010

July, 2010

India has large reserves of coal, crude oil and natural gas. Coal reserves in India are the fourth-largest in the world, amounting to 58.6 billion tonnes (2008). India has 20 refineries —17 in the public sector and three in the private sector. Crude oil accounted for 775 million metric tonnes (MMT) in 2009. Natural gas accounted for 1,074 billion cubic metres (BCM) (2009).

Policies such as the New Exploration Licensing Policy (NELP) and the Coal Bed Methane (CBM) Policy have helped attract investments from both the public and private sectors. Petroleum products and natural gas together contributed 2.36 per cent, or US$ 21.25 billion, to the country’s total GDP (US$ 900.19 billion) in 2007–08.

In 2009–2010, the production is estimated at about 38 MMT, 13.4 per cent higher than the previous year. The production of petroleum products is expected to reach 904.8 MMT by the end of the Eleventh Plan period. During the Eleventh Five Year Plan period (2007–2012), the production of crude oil is expected to increase by 24 per cent over the actual oil production during the Tenth Five Year Plan period (2002–07). The total production of natural gas is expected to reach 255.27 BCM by the end of the Eleventh Plan period.

Reliance Industries Limited (RIL) is the largest player in the private sector.

Indian Oil Corporation (IOC), ONGC and GAIL (India) Limited are other major players.

Sectoral Presentation (April 2010)

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