It's predicted that India will replace South Korea & emerge as the 4th largest consumer of energy by the year 2010, following U.S, China and Japan.

Indian oil and gas industry is one of the largest contributors to both the central & state exchequers in the country. Total share of this sector is estimated to be around $13.58Bn at present. State-run companies hold most of the 25 refineries in the country, having a capacity to process 2.5Mn barrels daily.

In terms of petroleum demand, India is at number six in the world. It's predicted that the country will replace South Korea & emerge as the 4th largest consumer of energy by the year 2010, following U.S, China and Japan.

Oil & gas exploration, distribution and marketing of petroleum products, crude oil refining and natural gas distribution are the main sub-sectors of the Indian oil & gas sector. So far, Indian oil and gas companies have been operating in specific segments of value chain.

Growing demand for energy in India & the need to service, for ensuring that the economic growth is not compromised, brings in business opportunities in this sector.

The significance of this sector can be determined from the following facts:

? Indian oil and gas sector was accountable for 40% of primary energy sources in 2004.
? All of the five companies listed in Fortune 500 operate in the oil and gas sector.
? Million barrels of oil per day in 2004, 3% of the world's refining capacity.
? India is ranked as ninth largest importer of crude oil in the world.