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As of 1 April 2021, India had estimated crude oil reserves of 587.335 Mt, decreasing by 2.65% from the previous year. The largest reserves are found in the Western Offshore (37%) and Assam (27%). The estimated reserves of natural gas in India as of 1 April 2021 was 1,372.62 BCM, increasing by 0.52% from the previous year.
Proven oil reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated, with a high degree of confidence, to be commercially recoverable from a given date forward from known reservoirs and under current economic conditions.
Indian Strategic Petroleum Reserves Limited (ISPRL) is an Indian public sector company responsible for maintaining the country's strategic petroleum reserves. ISPRL is a wholly owned subsidiary of the Oil Industry Development Board (OIDB), which functions under the administrative control of the Ministry of Petroleum and Natural Gas .
India has begun the development of a strategic crude oil reserve sized at 37.4 million barrels (5,950,000 m 3), enough for two weeks of consumption. [43] Petroleum stocks have been transferred from the Indian Oil Corporation to the Oil Industry Development Board (OIDB). [ 44 ]
India has the world's 3rd largest proven coal reserves with nearly 177 billion metric tons as on 1 April 2021. [61] [62] In India, coal is the bulk primary energy contributor with 56.90% share equivalent to 452.2 Mtoe in 2018. [8] India is the second largest producer of coal in 2023. [63]
In 2022, the Reserve Bank of India had total gold reserves of 787.4 tonnes. [62] India had the world's 9th largest gold reserves in 2022, and also became the world's 4th largest gold recycling country in the same year. [63] [64] The country has increased its organised gold refining capacity, with an increase from just 300 tons in 2013 to ...
The Petroleum and Natural Gas Regulatory Board in India is putting together a plan as of July 2023 to build strategic natural gas reserves in either abandoned gas wells and underground storage. They currently have no national natural gas reserves.
[12] [13] India was the fourth top coal producer in 2017 with 294.2 Mtons (7.8% global share). [7] Nearly 80% of total electricity generated (utility and captive) in India is from coal and it is the main source of the nation's greenhouse gas emissions. According to Greenpeace the largest coal belt in India is at Jharia. Before coal mining ...