India’s Petroleum Industry
Industry Overview
- India has 19 Public Sector Undertaking (PSU) refineries, 3 private-sector refineries, and 1 joint venture refinery.
- Refining capacity increased from 215.066 MMTPA in 2014 to 256.816 MMTPA in 2024.
Recent Developments
- Exploration acreage is set to increase to 1 million square kilometres by 2030, with a 16% rise expected in 2025.
- The domestic LPG cylinder price remains among the lowest globally, with Rs. 803 per 14.2 kg cylinder, and Rs. 503 for Pradhan Mantri Ujjwala Yojana (PMUY) households after subsidies.
- A policy amendment, the Oilfields (Regulation and Development) Amendment Bill 2024, facilitates a single license for all hydrocarbons.
Key ....
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