Oil & Gas

Oil and gas conservation means their better and more efficient use with regard to economic, social or environmental costs and benefits, resulting in attainment of higher energy use efficiencies, minimization of wasteful practices and wastage and protection of the environment.

India consumption has been increasing at a very steep rate from 3.5 MMT to 84.3 MMT and projected toreach 175 MMT.

Out of the known Indian reserves of 660 MMT of Crude Oil and 648 Billion Cubic Metres of Natural Gas, only a part may be technically and economically feasible to exploit. This fact, coupled with the present and expected consumption rates implies that these reserves may not last even 10 years. Our present indigenous production is only 33 MMT and is less than 50% of our annual requirement. Therefore, the Government attaches high priority to minimizing the gaps between indigenous production and consumption of petroleum products. The need of the hour is to conserve petroleum by its judicious use, substituting it by other resources wherever feasible and restricting its use only to the essential needs.

Natural Gas

Natural gas has emerged as the most preferred fuel due to its inherent environmentally benign nature, greater efficiency and cost effectiveness. The demand of natural gas has sharply increased in the last two decades at the global level. In India too, the natural gas sector has gained importance, particularly over the last decade, and is being termed as the Fuel of the 21st Century Production of natural gas, which was almost negligible at the time of independence, is at present at the level of around 87 million standard cubic meters per daout of the total production of around 87 MMSCMD, after internal consumption, extraction of LPG and unavoidable flaring, around 74 MMSCMD is available for sale to various consumers.

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