India Oil and Gas Sector Report FY2026 Q1

India is the third-largest consumer of oil and the eleventh-largest consumer of natural gas globally, with consumption set to rise in tandem with economic expansion, rapid urbanisation, increasing mobility, and industrial growth. As the economy scales, energy demand is projected to surge, intensifying India's reliance on imported hydrocarbons, particularly crude oil, where domestic production has been in steady decline for over a decade. This dependence has placed energy security at the centre of policy strategy, especially amid heightened geopolitical volatility and fluctuating global prices. In response, the government is pursuing a multi-pronged energy strategy encompassing import diversification, policy and regulatory reforms to spur upstream exploration and foreign investment, and accelerated infrastructure development to facilitate natural gas consumption and distribution. Natural gas is being positioned as the "transition fuel" in India's energy mix, supported by measures such as the preferential allocation of Administered Price Mechanism (APM) gas to the City Gas Distribution (CGD) sector to drive Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) adoption. The ethanol blending program (EBP), targeting 20% by 2025-26, and the push for compressed biogas (CBG) blending are complementary efforts that not only reduce dependence on imported petrol and natural gas but also strengthen the domestic biofuel ecosystem. Similarly, the phased introduction of Sustainable Aviation Fuel (SAF) signifies the government's commitment to reducing emissions across fuel segments. The success of India's energy transformation will hinge on the pace of policy execution, infrastructure readiness, investment inflows, and the integration of low-carbon technologies into mainstream energy operations. Private and public sector companies alike are recalibrating strategies, investing not only in core hydrocarbon operations but also in low-carbon and renewable energy solutions, including green hydrogen, biofuels and carbon...

This report provides a complete and detailed analysis of the "Energy and utilities" 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 "Energy and utilities" 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