World’s fastest-growing energy market. India is the 3rd largest energy and oil consumer in the world after China and the US.

World’s fastest-growing energy market

India is the 3rd largest energy and oil consumer in the world after China and the US.

After China and the US, India is the world's 3rd largest energy and oil and gas user.
India is the 4th largest liquefied natural gas (LNG) importer.
India consumed 213.2 MMT and 60,747 MMSCM of petroleum products and natural gas. During 2018, the import of crude oil and LNG was 82.59% and 45.89%, respectively. In 2018, the petroleum import bill was $112 billion, a rise of 27 percent over $88 billion in 2017-18, and 23.42 percent of the nation 's overall gross imports. During 2016-2030, India 's projected oil and gas demand will increase by 4 percent at CAGR compared to the world average of 1 percent, although the projected oil and gas demand will be much lower compared to the US and China.

230 billion barrels of traditional O+OEG hydrocarbons are available to investors in an area of over 3 mn sq.km, spread over 26 sedimentary basins.
India aims to reduce its reliance on oil and gas imports by 10 percent by 2022.

At a CAGR of 10 percent, demand for petroleum products is expected to hit 244,960 MT by 2021-22.
At a CAGR 7.5% of the total number of fuel retail outlets increased from 18,848 (2002) to 64,624 (2019). 78,000 new fuel retail outlets are expected to be added by state-owned marketing firms.

The actual share of natural gas in the country's energy mix is 6%. By 2030, the target is to lift it to 15%
12 The opening of biofuel refineries is expected with an investment of $1.5 bn.

India is the second largest biogas consumer, with 5000 CBG plants to be opened under the SATAT scheme by 2023.
Ethanol blending in petrol in India will rise from 5 % to 20% by 2030.
In exploration activities of oil and natural gas fields under automatic path, 100% FDI authorized

49% FDI permitted by the Public Sector Undertakings (PSU) in petroleum refining without any disinvestment or dilution of domestic equity in existing PSUs under the automatic route

As a refinery centre, India has emerged and aims to raise its refining capacity to 400 MMTPA by 2025.

India's current capacity for refining is 249 MMTPA, consisting of 23 refineries, 18 in the public sector, 3 in the private sector and 2 in a joint venture. The biggest domestic refiner with a capacity of 80.7 MMTPA is the Indian Oil Corporation (IOC). IOC, Bharat Petroleum Corporation (BPCL) and Reliance Industries (RIL) are the top three firms, contributing about 66.7 percent of India's total refining output from FY 2018 to 19.

Around 16,788 km of natural gas pipelines are currently operational and around 12,672 km of gas pipelines are being built.

Over the years, India has seen a steady rise in production as well as consumption of oil products. During 2016-17, the output of petroleum products stood at 243.5 MMT to 262.3 MMT in 2018-19.

The cumulative output of crude oil between April and August 2020 was 12,886.26 TMT. As opposed to the output target of 2551 MMSCM, natural gas output for the month of April 2020 was 2155 MMSCM, showing an achievement of 84.48 percent.

On both coasts, the supply of liquefied natural gas (LNG) with 8 new R-LNG terminals coming up (4 on the west and 4 on the east coast). The total capacity, combined with the six existing terminals, would exceed 74 MMTPA.