India’s oil industry stands as a cornerstone of the nation’s economy and energy security, yet it grapples with significant challenges amidst its pivotal role as one of the world’s largest oil consumers. The industry encompasses vital operations from exploration and production to refining and marketing, with a heavy reliance on imports to meet energy demands.

To mitigate import dependency, India is aggressively exploring new oil and gas reserves, both onshore and offshore, while also implementing policies to attract foreign investments and foster technology collaborations.

However, the sector faces hurdles such as volatile global oil prices, environmental imperatives, and the imperative to transition towards cleaner energy sources. The government’s proactive measures, including initiatives to promote energy efficiency and renewable energy adoption, are critical steps towards ensuring sustainability and resilience within the industry.