India has set plans to begin blending compressed biogas with gas to cut down on natural gas imports, the government announced on Saturday.
Mandatory phasing will…
READ MOREOil reserves4.5 billion barrels
Oil production746,000 bopd
Gas reserves1.3 tcm
Gas production28.5 bcm
India’s oil and gas industry has long been a rising pillar in the country’s economic development. While India is a net importer of hydrocarbons, with the International Energy Agency forecasting dependence on oil imports to rise to 90% by 2040, E&P activities have grown considerably to match the country’s growing energy consumption. The government has made successful revisions of its policies and pricing to incentivise exploration, production and downstream activities, including early production royalty concessions and allowance of 100% FDI participation in many areas of the energy industry.
Most of India’s oil reserves are located in the west of the country, in particular in the western offshore region near Gujarat and Rajasthan. The Assam-Arakan basin in India’s northeast is also an important oil-bearing area. These regions contain mature fields where production is currently declining. EOR and redevelopment projects are underway to minimise production decline, with new technologies raising interest for investors looking to participate in brownfield projects. The country’s upstream sector is dominated by India’s NOC ONGC and its subsidiaries, with massive participation from local and foreign independents.
Outside of its upstream sector, India’s downstream sector has grown considerably to match raised production and petroleum imports. Local players Indian Oil Corporation, Bharat Petroleum Corporation and Reliance Industries have traditionally taken up more than 60% of the local refining market. LNG terminals have also grown around India’s coastline, with more penned for further development. The nation is also actively looking to increase its gas pipeline infrastructure to increase industrial development in regional areas and support economic equality between its states and union territories.
Uganda is targeting net-zero emissions from its booming energy industry by 2062.
READ MORELarsen & Toubro has secured a major onshore gas pipeline project in the Middle East.
READ MOREAs India targets raising the share of gas in its energy mix, anticipated investment in gas pipelines in the northeast is USD 4.95 billion.
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READ MOREIndia has set plans to begin blending compressed biogas with gas to cut down on natural gas imports, the government announced on Saturday.
Mandatory phasing will…
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READ MOREADNOC Gas has signed a multi-year deal to deliver LNG to Japanese energy company Jera worth between USD 9.4 million and USD 12 billion, the Emirati gas giant announced…
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READ MOREADNOC Gas has signed a five-year LNG supply agreement with Japan Petroleum Exploration Company (JAPEX), the Emirati gas company announced on Thursday.
The agreement…
READ MOREIbrahim Al Nadhairi, CEO of Asyad Shipping & Drydock, talks to The Energy Year about the synergies found in combining Asyad’s Shipping and Drydock arms, the…
READ MOREIndian Oil has inked two LNG import deals with Emirati NOC ADNOC and French energy giant TotalEnergies, Reuters reported on Monday.
ADNOC LNG is set to deliver 1.2…
READ MOREONGC has promised to achieve net-zero carbon emissions by 2038 through planned spending of USD 12.1 billion by 2030 on energy transition projects, the Indian NOC…
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