India's LNG imports are forecasted to increase at a CAGR of 33 per cent during 2012-17.State-owned ONGC dominates scene accounting for approximately 60 per cent of the country's total oil output (FY14). IOCL operates 11,214 km network of crude, gas and product pipelines, with a capacity of 1.6 MBPD of oil and 10 million metric standard cubic metre per day (MMSCMD) of gas.
This is around 30 per cent of the nation's total pipeline network. IOCL is the largest company, operating 10 out of 22 Indian refineries.According to data released by the Department of Industrial Policy and Promotion (DIPP), the petroleum and natural gas sector attracted foreign direct investment (FDI) worth US$ 6,519.53 million between April 2000 and January 2015.India is the fourth-largest energy consumer in the world.
Oil and gas account for 37 per cent of total energy consumption. Oil consumption is estimated to reach four million barrels per day (MBPD) by FY16, expanding at a compound annual growth rate (CAGR) of 3.2 per cent during FY08-16.crude oil production in FY14 stood at 37.9 million metric tonnes (MMT). ONGC accounted for 59 per cent of total crude oil production in India. Total gas production was 35.4 billion cubic metres (BCM) in FY14.