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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.
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.
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 ]
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 ...
India is also the second-largest importer of coal 141.7 Mtoe in 2018 and the second-largest consumer of coal with 452.2 Mtoe in 2018. [8] India is also home to the world’s largest coal company, Coal India Ltd, which controls 85% of the country’s coal production with 7.8% production share of coal (including lignite) in the world. [64]
[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 ...
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