Common
Oil and gas industry in India
The petroleum 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 Maharashtra (Mumbai High Field). As of 31 March 2018, India had estimated crude oil reserves of 594.49 million metric tonnes (Mt) and natural gas reserves of 1339.57 billion cubic metres of natural gas (BCM). India imports 82% of its oil needs and aims to bring that down by replacing it with local hydrocarbon exploration, renewable energy and indigenous ethanol fuel. India was the second top net crude oil (including crude oil products) importer of 205.3 Mt in 2019. Meanwhile, India’s refining capacity has steadily increased over the years, rising from 215.1 million metric tonnes per annum (MMTPA) to reaching 258.1 MMTPA as of FY25. By March 2021, India's domestic crude oil production output fell by 5.2% and natural gas production by...
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