India has large reserves of coal, crude oil and natural gas. India has 20 refineries —17 in the public sector and three in the private sector. India’s primary exports in this sector include petroleum products. It is also the fourth-largest coal producer in the world with the third-largest proven coal reserves. With about 4.6 TCM of coal bed methane (CBM) resources, the country has significant prospects for commercial recovery of CBM.
Over the period 2000–2009, oil and gas consumption grew at a 5 per cent CAGR to reach 184 million metric tonnes (MMT). This is projected to reach 368 MMT by 2025. Petroleum products and natural gas together contributed 2.8 per cent (US$ 30.8 billion) to the country’s total gross domestic product (GDP (US$ 1089.3 billion)) in 2008–09.
Total production of crude oil stood at 33.7 MMT in 2009–10, 0.6 per cent higher than the production in 2008-09 (33.5 MMT). Total production of natural gas stood at 47.5 BCM in 2009-10 —44.6 per cent more than the previous year’s production (32.9 BCM). Total production of natural gas is expected to reach 255.3 BCM by the end of the Eleventh Plan period.
During the Eleventh Five Year Plan period (2007–2012), production of crude oil is also expected to increase by 24 per cent over oil production during the Tenth Five Year Plan period (2002–07).
Production of petroleum products is expected to reach 904.8 MMT by the end of the Eleventh Plan period. Investment worth US$ 563 billion is expected across the oil and gas value chain under the Eleventh Plan (2007–2012).
100 per cent foreign direct investment (FDI) is allowed in upstream and private sector refining projects. The FDI limit for public sector refining projects has been raised to 49 per cent. Furthermore, the University of Petroleum and Energy Studies in Dehradun, Uttarakhand, is Asia’s first and only energy university.Sectoral Presentation (November 2010)
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