India is expected to be one of the largest contributors to non-OECD petroleum consumption growth globally. Oil imports rose sharply to US$ 87.37 billion in 2017-18 from US$ 70.72 billion in 2016-17. India retained its spot as the third largest consumer of oil in the world in 2017 with consumption of 4.69 mbpd of oil in 2017, compared to 4.56 mbpd in 2016.
India was the fourth-largest Liquefied Natural Gas (LNG) importer in 2017 after Japan, South Korea and China. LNG imports increased to 26.11 bcm in 2017-18 from 24.48 bcm in 2016-17.
Gas pipeline infrastructure in the country stood at 16,226 km at the beginning of February 2019. India’s domestic crude oil production in July 2019 is 2,769 thousand tonne (TMT). As of 2017, the country had 600 million metric tonnes (MMT) of proven oil reserves.
In FY19, total crude oil imports were valued at US$ 111.96 billion as compared to US$ 87.70 billion in FY18. In FY19, crude oil imports increased to 4.53 mbpd from 4.41 mbpd in FY18.
Production of petroleum products by fractionators grew to 4,931.22 tmt in FY19 from 4,808.00 tmt in FY18 and reached 2369 TMT in FY20 (till September 2019).