‘Indian Petroleum & Natural Gas Statistics 2020-21’

‘Indian Petroleum & Natural Gas Statistics 2020-21’

• Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri launched ‘Indian Petroleum & Natural Gas Statistics 2020-21’ on March 11th, 2022.3.15
• ‘Indian Petroleum & Natural Gas Statistics’ is the annual publication of the Ministry of Petroleum and Natural Gas. It gives an overall picture of India’s petroleum & Gas sector. The publication includes data on production, refining, transport and marketing, imports, and exports of crude oil and petroleum products.
• India imports nearly 85% of its crude oil requirements. Thus, in 2020-21 India’s self-sufficiency ratio for petroleum products was 15.6%.
• Petrol and diesel prices in India are the highest among South Asia countries and are comparable to highly taxed European retail prices. The prices in India are also highest among countries with comparable GDP.
• India is dependent on imports for meeting about 54% of its Natural gas needs. Imported natural gas is used for both industrial purposes and also for domestic purposes like cooking and also transportation (public and private).
• At present, there are disruptions in international markets due to sanctions on Russia. India’s dependence on Russian oil, gas, and coal is less, so there is no significant supply-side risk for India. However, there is an energy price risk for India, which will hit poor Indian households hard.

Published date : 16 Mar 2022 05:17PM