India Oil and Gas Market

Detailed market report on India's oil and gas market, featuring industry analysis, size, and forecast from 2025 to 2030.

The report covers Oil and Gas Companies in India and the market is segmented by sector (upstream, midstream, and downstream). The report offers the size and forecasts for the oil and gas markets in volume (thousands of barrels per day, billions of cubic feet per day, and MTPA).

Oil and Gas Industry in India Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

India Oil and Gas Market Size

India Oil And Gas Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 40.10 Billion cubic meter
Market Volume (2030) 51.67 Billion cubic meter
CAGR 5.20 %
Market Concentration Low

Major Players

India Oil And Gas Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of India Oil And Gas Market with other markets in Energy & Power Industry

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India Oil and Gas Market Analysis

The India Oil And Gas Market size is estimated at 40.10 billion cubic meter in 2025, and is expected to reach 51.67 billion cubic meter by 2030, at a CAGR of 5.2% during the forecast period (2025-2030).

The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and a decline in demand for refined petroleum products. Currently, the market has rebounded to pre-pandemic levels.

  • Factors such as the increasing natural gas pipeline capacity and the increasing demand for petroleum products are expected to drive the Indian oil and gas market during the forecast period. Also, the oil and natural gas market is a major industry in the energy market and plays an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology.
  • However, a huge dependence on imports of crude oil and natural gas to satisfy domestic demand and the high volatility of crude oil prices are expected to hinder the growth of the Indian oil and gas market.
  • There have been significant gas hydrate discoveries in the KG Basin. Economically feasible extraction of the gas hydrates may create immense opportunities for the companies, which may lead to a boom in natural gas production.

India Oil and Gas Industry Overview

The India oil and gas market is fragmanted. Some of the key players (in no particular order) include Oil and Natural Gas Corporation (ONGC), Oil India Limited (OIL), Reliance Industries, Indian Oil Corporation Limited (IOCL), and Punj Lloyd Limited., among others.

India Oil and Gas Market Leaders

  1. Punj Lloyd Limited

  2. Oil India Limited

  3. Indian Oi Corporation Limited

  4. Oil and Natural Gas Corporation

  5. Reliance Industries Limited

  6. *Disclaimer: Major Players sorted in no particular order
India Oil And Gas Market Concentration
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India Oil and Gas Market News

  • In March 2023, Indian Oil Corporation Ltd. announced that the company would invest USD 742 million in building a petrochemical complex at Paradip in the state of Odisha.
  • In January 2022, Adani Total Gas Ltd (ATGL), a joint venture between the Adani Group and TotalEnergies, won licenses to expand its City Gas Distribution (CGD) network to 14 new geographical areas with an investment of USD 243 million.

India Oil and Gas Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Natural Gas Production Forecast in billion cubic meters, till 2028
  • 4.3 Crude Oil Production Forecast in billion cubic meters, till 2028
  • 4.4 Refinery Installed Capacity and Forecast in thousand barrels per day, till 2028
  • 4.5 LNG Terminals Installed Capacity and Forecast in MTPA, till 2028
  • 4.6 Recent Trends and Developments
  • 4.7 Government Policies and Regulations
  • 4.8 Market Dynamics
    • 4.8.1 Drivers
    • 4.8.2 Restraints
  • 4.9 Supply Chain Analysis
  • 4.10 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Sector
    • 5.1.1 Upstream
    • 5.1.1.1 Location of Deployment
    • 5.1.1.1.1 Onshore
    • 5.1.1.1.2 Offshore
    • 5.1.2 Downstream
    • 5.1.2.1 Refineries
    • 5.1.2.2 Petrochemical Plants
    • 5.1.3 Midstream
    • 5.1.3.1 Transportation
    • 5.1.3.2 Storage
    • 5.1.3.3 LNG Terminals

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Market Share Analysis
  • 6.4 Company Profiles
    • 6.4.1 Oil and Natural Gas Corporation
    • 6.4.2 Oil India Limited
    • 6.4.3 Reliance Industries
    • 6.4.4 Indian Oil Corporation Limited
    • 6.4.5 Punj Lloyd Limited
    • 6.4.6 Bharat Petroleum Corporation Limited
    • 6.4.7 GAIL (India) Limited
    • 6.4.8 Hindustan Petroleum Corporation Limited
    • 6.4.9 Cairn India
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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India Oil and Gas Industry Segmentation

The oil and natural gas market is a major industry in the energy market and plays an influential role in the global economy as the world's primary fuel source. The processes and systems involved in producing and distributing oil and gas are highly complex, capital-intensive, and require state-of-the-art technology. The oil and gas value chain includes extraction of petroleum, refining, transportation, and retailing.

The India oil and gas market is segmented by sector. By sector, the market is segmented into upstream, downstream, and midstream. The market sizing and forecasts have been done based on Production volume (billion cubic meters).

Sector Upstream Location of Deployment Onshore
Offshore
Downstream Refineries
Petrochemical Plants
Midstream Transportation
Storage
LNG Terminals
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India Oil and Gas Market Research FAQs

How big is the India Oil And Gas Market?

The India Oil And Gas Market size is expected to reach 40.10 billion cubic meter in 2025 and grow at a CAGR of 5.20% to reach 51.67 billion cubic meter by 2030.

What is the current India Oil And Gas Market size?

In 2025, the India Oil And Gas Market size is expected to reach 40.10 billion cubic meter.

Who are the key players in India Oil And Gas Market?

Punj Lloyd Limited, Oil India Limited, Indian Oi Corporation Limited, Oil and Natural Gas Corporation and Reliance Industries Limited are the major companies operating in the India Oil And Gas Market.

What years does this India Oil And Gas Market cover, and what was the market size in 2024?

In 2024, the India Oil And Gas Market size was estimated at 38.01 billion cubic meter. The report covers the India Oil And Gas Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Oil And Gas Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Oil and Gas in India Industry Report

The oil and gas market in India is poised for significant growth, driven by advancements in exploration, extraction, and production technologies that enhance efficiency and reduce costs. The market size of the oil and gas industry in India is segmented into upstream, midstream, and downstream sectors, each playing a crucial role in the overall value chain. Applications are divided into offshore and onshore activities, reflecting the diverse operational environments. The downstream sector is expected to witness substantial growth due to rising energy demand and the establishment of new refineries. Additionally, increasing investments in the midstream sector, particularly in pipeline infrastructure, are anticipated to drive market expansion.

The industry's evolution is influenced by economic trends, geopolitical factors, technological advancements, and environmental considerations, with a growing emphasis on sustainable practices and renewable energy sources. The competitive landscape of the oil and gas industry in India is characterized by a fragmented market with numerous key players, each contributing to the dynamic and complex ecosystem of oil and gas companies in India.

The report provides an industry overview and includes detailed market data, market forecast, and market growth analysis. It offers insights into industry trends, industry size, industry statistics, and industry outlook. The report also highlights market segmentation, market value, and market predictions, providing a comprehensive market overview and market review.

Industry reports and industry research focus on the growth rate and market leaders, offering a detailed market outlook. The report pdf serves as a valuable resource for research companies, providing an in-depth industry analysis and industry information. The industry sales and market value are thoroughly examined, ensuring a detailed understanding of the market dynamics. The report example included in the analysis offers a practical demonstration of the market's potential and future growth.