One of the 6 core industries of India, the Oil and Gas (O&G) sector is gaining prominence at a high pace.
With the consumption rate increasing constantly, it is becoming essential to produce more crude oil and gas to meet the growing requirements. The growth of this sector is majorly backed by the growing needs but at the same time this sector largely contributes to the economic growth of the country in all respects. India's economic growth is closely linked to energy demand. The need for oil and gas, which are among the primary sources for meeting energy requirements, is thus projected to grow further. The Indian Oil & Gas sector is projected to touch US$ 139,814.7 million by 2015. Business Monitor International (BMI) has assessed that oil refining capacity in the Asia Pacific region will grow by 4.26% between 2015-20.
With this kind of growth, the increase in employment opportunities begins to occur simultaneously. This sector needs qualified and skilled engineers and professionals who are well versed with the functioning of this sector and can contribute to the growth of petroleum and natural gas industries.
- One of the 6 core industries of India
- Contribution of over 15% to GDP
- 9th largest crude oil importer
- India’s most exported substance
- Potential increase in natural gas consumption by 2025 is 20%