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Map of countries with proven oil reserves - according to US EIA (start of 2017) Trends in proven oil reserves in top five countries, 1980–2013 (data from US Energy Information Administration) A map of world oil reserves according to OPEC, January 2014
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.
India was able to resolve the crisis through policies that liberalised the economy. However, India continued to be impacted by the volatility of oil prices. In 1998, the Atal Bihari Vajpayee administration proposed building petroleum reserves as a long-term solution to managing the oil market. [9]
The EIA estimates that India registered oil demand growth of 100,000 bbl/d (16,000 m 3 /d) during 2006. As of 2013 India Produces 30% of India's resources mostly in Rajasthan. [15] India's state-owned Oil and Natural Gas Corporation (ONGC) is the largest oil company in India.
A map of world oil production (2013) Oil-producing countries (information from 2006 to 2012) This article includes a chart representing proven reserves, production, consumption, exports and imports of oil by country.
Krishna Godavari Basin is a peri-cratonic passive margin basin in India. It is spread across more than 50,000 square kilometres [1] in the Krishna River and Godavari River basins in Andhra Pradesh. The site is known for the D-6 block where Reliance Industries discovered the biggest natural gas reserves in India in 2003.
Given India's growing energy demands and limited domestic oil and gas reserves, the country has ambitious plans to expand its renewable and most worked out nuclear power programme. [19] India has the world's fourth largest wind power market and also plans to add about 100,000 MW of solar power capacity by 2022.
After discovery of oil in the Assam state of India in late 1880s, the first oil refinery was set up at Digboi. Digboi Refinery was commissioned in 1901. [1] Following is a list of oil refineries in India, per the Petroleum Planning and Analysis Cell of the Ministry of Petroleum and Natural Gas, Government of India, [2] arranged in decreasing order of their capacity.