India Oil and Gas Sector Q1 FY2025

The oil and gas (O&G) sector, one of India's eight core industries*, plays a pivotal role in its economic growth, fulfilling a significant portion of its energy demand. In 2023, oil and natural gas accounted for 27.1% and 5.78% of India's energy mix, respectively. Despite the push toward cleaner energy sources, the O&G sector remains essential to the economy, as consumption of end products is rising and natural gas as a transitional fuel will play a vital role in the shift toward sustainability. India faces challenges in self-reliance, with import dependency reaching record levels in FY2024—87.8% for crude oil and 47.1% for natural gas—exposing the economy to price volatility and potential supply disruptions, especially in the current environment of heightened geopolitical risks. To strengthen energy security, a critical pillar of economic progress, the Ministry of Petroleum and Natural Gas (MoP&NG) is implementing policy reforms to catalyse domestic and foreign investment in exploration, and to reduce the import risks, there is an enhanced focus on diversifying the sources of crude oil and natural gas. To achieve the clean energy goals, requiring the need to reduce fossil fuel consumption, policy initiatives such as promoting electric mobility, increasing the ethanol blending in petrol, and Compressed Biogas Blending Obligation (CBO) in CNG transportation are underway.

This report provides a complete and detailed analysis of the "Oil exploration" sector for India. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the "Oil exploration" sector in India
• Crystallise the forces both driving and restraining this sector in India
• Ascertain India’s position in the global sector
• Build a complete perspective on sector trade, investment and employment
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in India.
• Build a clear picture of trends, output and consumption for specific sub-sectors