India Oil and Gas Sector Report FY2024 1st Quarter

The oil and gas sector is one of the eight core industries in India, a vital component of the energy mix with a ~1/3 contribution, making it a key enabler of economic growth. In 2022, crude oil and natural gas sectors had a share of 27.0% and 5.8%, respectively, with coal taking the lead at 55.6% in the energy mix. Indian dependency on imports to meet its crude oil requirements has risen over the years due to a gradual decline in domestic production and a simultaneous increase in consumption propelled by economic activity. While the nation is actively transitioning towards cleaner fuels and renewables, the significance of crude oil to the economy is expected to remain robust in the medium term, given the growing energy demands. India has set ambitious targets, aiming to raise the contribution of natural gas to 15% of the energy mix by 2030. Despite witnessing an uptick in domestic natural gas production, it remains insufficient to meet the domestic demand, rendering the nation vulnerable to global price fluctuations that could potentially challenge the achievement of this set goal.

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