Sector - Oil & Gas

India is the ninth largest crude oil importer in the world. Reliance Industries Ltd (RIL) in India is the third largest refinery in the world. India meets 75 % of its crude oil demand thro' imports. RIL found gas in the offshore Krishna - Godavari  in 2002. Key Players are ONGC, Oil India Ltd (OIL), RIL, British Gas, Cairn Energy and Niko Resources. In recent years, use of natural gas for the automotive sector has gained importance for reducing pollution in big cities.

India offers favourable investment climate across all the subsegments of Oil & Gas. No custom duties on imports required for Petroleum operations, freedom to sell crude oil and natural gas in domestic market at market determined prices, No cess on Crude oil production, corporate Tax deduction and allowances available to companies prospecting for oil and gas and they have a 7 Year income tax holiday are the factors to benefit the Industry.