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The oil and gas industry in India dates back to 1889 when the first oil deposits in the country were discovered near the town of Digboi in the state of Assam. The natural gas industry in India began in the 1960s with the discovery of gas fields in Assam and Gujarat. As on 31 March 2018, India had estimated crude oil reserves of 594.49 million tonnes (MT) and natural gas reserves of 1339.57 billion cubic meters (BCM)
India imports 82% of its oil needs and aims to bring that down to 67% by 2022 by replacing it with local exploration, renewable energy and indigenous ethanol fuelIndia was the third top net crude oil (including crude oil products) importer of 205.3 Mt in 2018.
Contents
1 History
2 Reserves
2.1 Distribution of reserves by state/region
2.2 Strategic petroleum reserves
3 Oil and gas imports
4 Production
5 Petroleum refining
6 Consumption
6.1 Electricity generation
7 Foreign trade
7.1 Oil imports by source country
8 Taxation and pricing
9 Petrol stations in India
10 See also
11 Notes
12 References
13 External links
History
Main article: History of the oil industry in India
The first oil deposits in India were discovered in 1889 near the town of Digboi in the state of Assam.
The natural gas industry in India began in 1889 with the discovery of gas fields in Assam and Gujarat. Natural gas gained further significance after the discovery of large reserves in the South Basin fields by ONGC in the 1970s
ReservesAs on 31 March 2018, India had estimated crude oil reserves of 594.49 million tonnes (MT), declining by 1.59% from the previous year. The largest reserves are found in the Western Offshore (40%), and Assam (27%). The estimated reserves of natural gas in India as on 31 March 2018 was 1,339.57 billion cubic meters (BCM), increasi.