Oil & Gas
The oil and gas industry in India dates back to 1889 when the first oil deposits in the country were discovered near the town of Digboi in the state of Assam. The natural gas industry in India began in the 1960s with the discovery of gas fields in Assam and Gujarat. Due to lack of adequate petroleum reserves, India has to depend mostly on crude oil imports in near future till its renewable energy resources such as solar, wind, hydro and bio-mass are exploited adequately to achieve energy security by replacing the petroleum products consumption which are also major contributors to the air pollution.
The oil and gas industry in India dates back to 1889 when the first oil deposits in the country were discovered near the town of Digboi in the state of Assam. The natural gas industry in India began in the 1960s with the discovery of gas fields in Assam and Gujarat. Due to lack of adequate petroleum reserves, India has to depend mostly on crude oil imports in near future till its renewable energy resources such as solar, wind, hydro and bio-mass are exploited adequately to achieve energy security by replacing the petroleum products consumption which are also major contributors to the air pollution.
SUBJECT Variables
PRODUCTION
- The total crude oil production was 28.7 million metric tonnes (MMT) in 2024-25, a 2.4% decline over the previous year.
- The total production of Natural Gas was 36.1 billion cubic metres (BCM) in 2024-25, a 0.8% decline over the previous year.
- The total production of Petroleum Products was 284.1 MMT in 2024-25, a 2.9% increase over the previous year.
CONSUMPTION
- The total crude oil consumption was 267.7 million metric tonnes (MMT) in 2024-25, a 2.4% increase over the previous year.
- The total consumption of Natural Gas was 71.9 billion cubic metres (BCM) in 2024-25, a 6.6% increase over the previous year.
- The total consumption of Petroleum Products was 239.5 MMT in 2024-25, a 2.2% increase over the previous year.
- Diesel comprised 38.5% while Petrol comprised 16.7% of the total petroleum products consumed in 2024-25.
- The share of LPG in the total consumption of petroleum products has increased from 10.4% in 2011-12 to 13.1% in 2024-25.
- 20.9% of the total petroleum products consumed in 2024-25 were by the private sector, while the public sector was responsible for 79.1% of the consumption. The share of the private sector in the total consumption of petroleum products has increased from 12.6% in 2011-12 to 20.9% in 2024-25.
- 30% of the total consumption of petroleum products in 2024-25 was within the 3 states of Gujarat, Maharashtra, and Uttar Pradesh.
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