Oil And Gas
India is the second largest oil refiner in Asia as of May 2018.

Indian Oil and Gas Industry Analysis

Latest update: July, 2018




Growth

Notes: MMTPA - Million Metric Tonnes Per Annum, Mtoe – Million Tonnes of Oil Equivalent; mbpd – Million Barrels Per Day; Figures mentioned in this slide is as per latest data available
Source: US Energy Information Administration (EIA), Ministry of Petroleum and Natural Gas

  • Domestic production accounts for more than three-quarter of the country’s total gas consumption
  • Demand is expected to increase due to higher economic growth, ensure less dependency on imported crude and a desire to use cleaner fuel
  • India’s LNG imports increased at a CAGR of 8.14 per cent during FY08–FY18.
  • Domestic gas production in India stood at around 30.92 billion cubic metres in FY17. Production during April-February 2017-18 reached around 29.11 bcm.
  • In India, auto LPG sector registered sales growth of 4.9 per cent to 346 TMT in 2016-17. Auto LPG consumption grew 10.7 per cent during April-February 2018.
Growth

Notes: bcm – Billion Cubic Metres, TMT – Thousand Metric Tonnes, Estimated Figures, FY181 – Gas production is up to February 2018 , * - gas production is from April 2017 to february 2018
Source: Ministry of Petroleum and Natural Gas, BP Statistical Review 2016, Aranca Research

Last Updated: July, 2018

In 2017, India retained its spot as the third-largest energy consumer^ in the world with oil and gas accounting for 37 per cent of its total energy consumption. Annual oil consumption stood at 4.69 million barrels per day (MBPD) and 54.20 billion cubic meters (bcm) of gas, as of 2017. By 2035, India’s energy demand is expected to double to 1,516 Mtoe by 2035 from 753.7 Mtoe in 2017. According to the International Energy Agency (IEA), India is expected to account for almost one-third of the global growth in energy demand by 2040.

India has proven oil reserves of 600 million metric tonnes (MMT), and gas reserves of 1.2 trillion cubic meters. Production of crude oil and natural gas during 2017-18 reached 0.64 mbpd and 31.63 bcm, respectively. Production of crude oil and natural gas during Apr-May 2018 stood at 0.12 mbpd and 5.26 bcm, respectively.

India has a flourishing crude oil refining industry with an annual capacity of 247.6 MMT, as of May 1, 2018. In FY18, India’s public and private sector refineries processed 160.77 MMT and 91.16 MMT of crude oil. India’s oil consumption is expected to grow 129 per cent during 2016-2040.

Several initiatives have been taken by the Government of India including the launch of Open Acreage Licensing Policy (OALP) and Coal Bed Methane (CBM) policy. It has allowed 100 per cent foreign direct investment (FDI) in E&P projects/companies and 49 per cent in refining under the automatic route.

Note: MMT – Million Metric Tonnes, ^As per BP Statistical Review 2018

Indian Oil And Gas Industry Report (July, 2018)

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Indian Oil And Gas Industry Report (June, 2018)

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