India is the 3rd largest energy and oil consumer in the world after China and the US. Oil and gas occupied approximately 35% share in India’s energy consumption. India is the fourth largest importer of liquefied natural gas (LNG) after Japan, South Korea and China. India, which is second largest refiner in Asia after China, is emerging as a refinery hub with refining capacity exceeding demand. India's current refining capacity stands at 247.5 MMPTA, comprising of 23 refineries- 18 under public sector, 3 under private sector and 2 in joint venture. India’s oil demand is expected to grow at a CAGR of 3.6 per cent to 458 Million Tons of Oil Equivalent (MTOE) by 2040, while demand for energy will be more than double by 2040 as “economy will grow to more than five times current state. The demand for petroleum products is estimated to reach 244,960 MT by 2021-22. Gas production will likely touch 90 billion cubic meter by 2040. We at India Project News.in helps to bring out the latest upcoming projects in LPG / LNG Storage & Distribution, Natural Gas Processing, Oil & Gas Exploration & Extraction, Oil & Gas Pipelines, Petroleum Distribution & Petroleum Refining under Petroleum & Natural Gas Industry..
