OIL AND GAS
The oil and gas sector plays a vital role in influencing decision making for all the other important sections of the economy as it is among the eight core industries in India.
The need for oil and gas is projected to grow more in the near future, thereby making the sector quite conducive for investment. To fulfill the increasing demand, government of India has adopted several policies. The government has allowed 100 per cent Foreign Direct Investment (FDI) in many segments of the sector, including natural gas, petroleum products, and refineries, among others.
The reports states that India had 4.5 thousand million barrels of proven oil reserves at the end of 2018 and produced 39.5 million tons in 2018. As of 1 April 2019, India had a network of 10,419 km of crude pipeline having a capacity of 145.6 MMTPA.