The Ministry of Petroleum and Natural Gas is concerned with exploration and production of
oil and natural gas (including import of liquefied natural gas), refining, distribution and
marketing, import, export and conservation of petroleum products.
Energy is a key driver of economic growth. Efficient, reliable and affordable energy is
essential for the sustainable development and inclusive growth of the overall economy. Due to
rapid economic expansion, India has become world’s fastest growing energy market. India
surpassed Russia to become the 3rd largest energy consumer in the world after China and USA
during 2015. Oil and gas accounted for around 35 per cent share in India’s energy consumption.
In fact, India surpassed Japan to become 3rd largest oil consumer in the world after US and China
Relevant Website: www.petroleum.nic.in
Production of Crude Oil and Natural Gas
The crude oil production for 2017-18 was at 35.68 million metric tonnes (MMT) as against
production of 36.01 MMT in 2016-17, showing a marginal decline of about 0.9 per cent, Natural
gas production during 2017-18 at 32.649 billion cubic meters (BCM) registered 2.35 per cent
increase over production of 31.8970 BCM in 2016-17.
Indian refinery industry has done well in establishing itself as a major player globally. India,
which is second largest refiner in Asia after China, is emerging as a refinery hub with refining
capacity exceeding demand. The country’s refinery capacity has increased to 247.57 MMTPA in
Production and Consumption of Petroleum Products
The production of petroleum products was at 254.40 MMT in 2017-18 as against 243.55
MMT achieved in 2016-17, showing an increase of about 4.46 per cent. During 2017-18, the
consumption of petroleum products was 204.92 MMT registering a growth of 5:31 per cent as
compared to consumption of 194.60 MMT during 2016-17.
Import of Crude Oil
Import of crude oil during 2017-18 was 220.43 MMT valued at ₹ 5,65,951 crore as against
import of 213.93 MMT valued at ₹ 4,70,159 crore in 2016-17 which marked an increase of 3.04
per cent in quantity terms and 20.37 per cent in value terms as compared to the import of crude
oil during 2016-17.
Imports and Exports of Petroleum Products
During 2017-18 imports of petroleum products were at 35.89 MMT valued at ₹ 86,946
crore which showed decline of 1.09 per cent in quantity terms and 21.49 per cent increase in
value terms against 36.29 MMT imports of petroleum products valued at ₹ 71,566 crore during
2016-17. During 2017-18 exports of petroleum products were 66.76 MMT valued at ₹ 2,25,139
crore which shows an increase of 1.91 per cent in quantity terms and 15.52 per cent value terms
against the exports of 65.51 MMT valued at ₹ 1,94,893 during 2016-17.
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