Oil and Natural Gas

India’s journey to be energy self-sufficient by 2047 has begun well.

Last updated: March 8, 2024

India is the largest exporter of petroleum products in Asia, and the 2nd largest refiner in the region.

3rd

largest consumer of oil in the world.

4th

largest importer of LNG in the world.

US$ 118 bn

project investments by 2024

15%

share of natural gas in the energy mix by 2030

100%

FDI (automatic route) in O&G exploration.

28trn tonnes

of oil and gas deposit, 60% of which is yet to be harnessed.

16,770 km

natural gas pipeline network is spread across India and steadily growing.

20%

ethanol blending in petrol by 2025

249mn tonnes

of current annual refining capacity from 23 refineries, including 18 state-run.

10.4%

Electricity Consumption Growth (Apr-Feb 2023)

12

Biofuel refineries are planned to be opened with an investment of US$1.5bn.

Hydrocarbon Exploration & Licensing Policy

Under this Policy, exploration blocks shall be awarded on continuous basis through e-bidding in a transparent manner.

Discovered Small Field Policy

Single licence to explore and extract all types of hydrocarbon resources will be allowed.
Open Acreage Licensing Policy(OALP)

The Government of India introduced the Open Acreage Licensing Policy (OALP) as a part of the Hydrocarbon Exploration and Licensing Policy (HELP) on March 30, 2016.
Policy Framework for Exploration and Exploitation of Unconventional Hydrocarbons

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the policy to permit exploration and exploitation of unconventional hydrocarbons such as Shale oil/gas, Coal Bed Methane (CBM).

Production Sharing Contracts (PSCs) in Pre-NELP and NELP Blocks

The Cabinet has approved the policy framework for streamlining the operations of Production Sharing Contracts (PSCs) for increased domestic production of hydrocarbon resources.

Enhanced Recovery Methods for Oil and Gas

The Union Cabinet has approved the Policy framework to promote and incentivize oil and gas exploration and production in the country.

National Policy on Biofuels

India is endowed with abundant renewable energy resources. Therefore, their use should be encouraged in every possible way.
New Exploration Licensing Policy (NELP)

The main objective of the policy was to attract significant risk capital from Indian and Foreign companies, state of part technologies, new geological concepts and best management practices to explore oil and gas resources in the country to meet rising demands of oil and gas.

Policy Reforms in Exploration of Oil & Gas

To increase exploration activities, attract domestic and foreign investment in unexplored/unallocated areas of sedimentary basins, and enhance domestic production of oil and gas from existing fields and promote ease of doing business by streamlining and expediting the approval processes.
Guidelines for the authorization for bulk and retail marketing of Petrol and Diesel

The guidelines have been integrated to increase Private Sector participation in the retail marketing of fuels. Prospective participants are to have a minimum net worth of US$ 33 mn.

Launch of the Project Monitoring Unit (PMU)

The Project Monitoring Unit (PMU) will help reduce the time required for receiving approvals and clearances.

Oil Industry Development Board

0120-2594602

Visit Website

The Oil Industry Development Board is functioning under the administrative control of Ministry of Petroleum & Natural Gas.

Oil and Natural Gas Corporation

011-26752021

Visit Website

ONGC is the largest crude oil and natural gas company in India, contributing around 70 per cent to Indian domestic production.

Petroleum Conservation Research Association

91-11-26198856

Visit Website

It helps the government in proposing policies and strategies for petroleum conservation, aimed at reducing excessive dependence of the country on oil requirement.

Directorate General of Hydrocarbons

91-120-2472001, 91-120-2472004

Visit Website

A nodal agency for implementation of NELP and CBM policy on behalf of Ministry of Petroleum & Natural Gas.

Petroleum Planning & Analysis Cell

011-24306191/92, 011-24361314

Visit Website

The agency provides information on production, consumption, import/export, prices, subsidy and marketing infrastructure of the country's oil and gas sector.

Ministry of Petroleum and Natural Gas

Investment Opportunities

  • Monetisation of 67 discovered small fields through international competitive bidding.
  • Infrastructure to connect 326 cities with city gas distribution network (CGD) by 2022.
  • Construction of another 15,000 km of gas pipeline network to bolster national gas grid.
  • Increase in India's refining capacity to reach 260m tonnes per annum by 2019-20.
  • Investment in export-oriented infrastructure, including product pipelines and export terminals.
  • Opportunities for foreign Investments and technology partnerships in the Upstream Sector.
Useful Links:

Key Investors

India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive and capital establishments

BP - one of the world's leading integrated oil and gas companies

Cairn Energy - oil and gas exploration and production company

Royal Dutch Shell - diversified international oil company

OILEX – explore, appraise and develop petroleum resources in India

Hardy Oil & Gas - upstream international oil and gas company

Reliance – hydrocarbon production, refining and marketing

ENABLING ENVIRONMENT

India has a well-oiled enterprise promoting machinery that is backed by strong legislative, judiciary, executive, and capital establishments

VC Activity to be driven by scaled startups in 2024: Report Read More
Multi-dimensional approach crucial to make India a global export hub: CII Read More
Telecom PLIs see increased uptake among MSMEs, others Read More
Amazon ‘Local Shops’ programme to double participant roster Read More
115 companies apply for auto PLI Read More
India and Australia to deepen engagement in defence, supply chain and maritime security Read More

News

Russia highlights expanding trade growth with India
November 13, 2024

Russia’s First Deputy Prime Minister Denis Manturov highlighted substantial growth …

Read More

India’s export grows, driven by gems, semiconductors
November 5, 2024

According to recent data from the Commerce Ministry, India’s export …

Read More

India’s RE sector sees growth with new investments in Oct ’24
November 5, 2024

India’s renewable energy (RE) sector demonstrated notable growth in October …

Read More
View All

Events

Nov 26,2024

Financial Inclusion & Fintech Summit
Nov 27,2024

5th edition of the International Energy Conference and Exhibition
View More