RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2022-06-01 10:15:00

INDIA OIL GAS INVESTMENT $4 BLN

INDIA OIL GAS INVESTMENT $4 BLN

ENERDATA31 May 2022 - The Indian state-owned oil and gas company ONGC (Oil and Natural Gas Corporation) plans to invest INR31,000 crore (US$4bn) in exploring the Indian sedimentary basin for fuel reserves over the next three fiscal years (2022-2025). ONGC is aiming to probe around 1.7 Mt of oil and oil equivalent gas of yet-to-find reserves. This investment represents a 50% increase in exploration expenditures compared to the previous three fiscal years (2019-2021).

The company reported a gradual decline in output for over a decade. In FY 2021-2022, ONGC produced 19 Mt of crude oil (a 3.6% decrease compared to the previous year) and 22 bcm of natural gas. Nevertheless, ONGC remains India's largest oil and gas producer with about 63% of the country's total domestic oil production and 71% of its total domestic gas production (which reached 30 Mt for crude oil and 31 bcm for natural gas in FY 2021-2022). As of 2021, India's oil reserves are estimated at 4,530 mbl and its gas reserves at 1,372 bcm.

India imported 84% of its oil needs and 54% of its gas needs in 2020. After coal (44%), oil represented 44% of the country’s total consumption in 2020, against 6% for natural gas.

-----


Earlier:

INDIA OIL GAS INVESTMENT $4 BLN
2022, May, 30, 11:30:00
INDIA NEED COAL ANEW
It would be the first time since 2015 that Coal India has imported the fuel, highlighting efforts by state and federal officials to stock up to avoid a repeat of April, when India faced its worst power cuts in more than six years.
INDIA OIL GAS INVESTMENT $4 BLN
2022, May, 30, 11:25:00
INDIA'S COAL PRODUCTION ROSE BY 4.5%
The Siarmal mine, located in the state of Odisha (eastern India), will start producing 2-5 Mt/year and will ramp up its production capacity of 50 Mt/year in 5 to 7 years.
INDIA OIL GAS INVESTMENT $4 BLN
2022, May, 30, 11:20:00
INDIA NEED LNG
Currently, GAIL has a term LNG import deal in place with Gazprom's Singapore-based trading arm.
INDIA OIL GAS INVESTMENT $4 BLN
2022, May, 25, 11:30:00
INDIA REDUCES OIL PRICES
India's federal government decided to cut the excise duty on petrol and diesel in an attempt to rein in high levels of inflation.
INDIA OIL GAS INVESTMENT $4 BLN
2022, May, 20, 11:40:00
INDIAN RENEWABLE 5.2 GW, $3 BLN
The project is set to reach a storage capacity of 5,230 MW and involves 10,800 MWh of daily storage capacity from a pumped-storage plant, with the integration of 3,000 MW of solar and 550 MW of wind capacity.
INDIA OIL GAS INVESTMENT $4 BLN
2022, May, 18, 12:05:00
INDIA'S OIL DEMAND UPDOWN
India's oil demand is expected to grow by 245,000 b/d year on year in 2022, revised up by about 20,000 b/d from an earlier outlook, due to better-than-expected demand trends.
INDIA OIL GAS INVESTMENT $4 BLN
2022, April, 6, 11:25:00
INDIA NEED URANIUM
Natural uranium required for India's pressurised heavy water reactors operating under International Atomic Energy Agency safeguards was imported from Kazakhstan, Canada, Russia and France
All Publications »
Tags: INDIA, OIL, GAS, INVESTMENT