Indian Oil Industry

Published: 2021-09-15 03:20:12
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Category: Technology

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Over the years India Petroleum Industry has played an influential part in triggering the speedy expansion of the country's economy by contributing 15% in the total GDP. Further to this, petroleum exports gave new dimension to foreign exchange earnings by drawing US$ 23.64 billion in the FY 2008-09.




To assist and acknowledge the expansion of the sector, the Cabinet Committee on Economic Affairs felicitated 44 petroleum research blocks on November 2008 under the New Exploration Licensing Policy (NELP-VII).


Various Production Segments:


*Refinery production: Refinery production in context of crude oil escalated from 156.11 MT in FY 2007-08 to 160.67 MT in FY 2008-09. Indian Oil Corporation Ltd is looking forward to elevate the capacity of its Haldia refinery and Panipat refinery plants to 7.5 million tones and 15 million tones respectively in 2010.


*Natural Gas Production: The natural gas production in 2008-09 increased from the previous year's 32.40 billion cubic metres tonnes (BCM) to 32.84 BCM. In 2009 alone the Natural gas production was registered at 33,846 million cubic metres.


*Crude Oil Production: The projected production of crude oil during the 11th Five-Year Plan (2007-2012) is 206.76 MMT, while that of natural gas is 255.27 BCM. Cumulative production of crude oil between April-December 2009 was 25,152 MT, while cumulative production of refinery production during the same period was 119,283 MT.

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