CRUDE OIL PRODUCTION WORLD INDIA OPEC TRADE
CRUDE OIL REFINERY LOCATION SUPPLY INDIA UPSC
CRUDE OIL STATES & THE RESERVES
CRUDE OIL PRODUCTION WORLD INDIA:
- The oil and gas sector is the driver of any economy.
- India's economic growth is expected to drive global growth, therefore the need for oil and gas is projected to grow more.
- India is the third largest consumer of oil in the world in 2023.
- Old oil fields are largely concentrated in the states of Assam & Gujrat & offshore in Bombay high.
- New oil fields are located in Krishna Godavari basin & rajasthan.
- It is transported with the help of pipelines.
- The annual oil refining capacity of the country is now reached to 213 MT, which was 0.5 MT at the time of independence.
- Reliance Petroleum Ltd., a private sector oil refinery, in Jamnagar, Gujarat, has oil refining capacity of 24 million barrels per day. It is the world's largest oil refining unit.
- India produces around 34 million tonnes of crude oil domestically and imports around 220 million tonnes.
- India exports around 5o million tonnes of refined petroleum products, which is the highest item of export from india.
Global oil reserves, production, consumption & OPEC share
Global oil reserves, production, consumption & OPEC share
- Venezuela has the highest proves Crude oil reserves.
- Crude oil, refined oil and lubricants is the top item of import and export in india’s trade.
1 Tonne = 7.6 barrels
1 Barrel = 131.27 KG
1 Barrel = 159 liters
The top 10 oil consumers and share of total world oil consumption in 2021,
| Country | Million barrels per day | Share of world total |
| United States | 19.89 | 20% |
| China | 15.27 | 16% |
| India | 4.68 | 5% |
| Russia | 3.67 | 4% |
| Japan | 3.41 | 4% |
| Saudi Arabia | 3.35 | 3% |
| Brazil | 2.89 | 3% |
| South Korea | 2.56 | 3% |
| Canada | 2.26 | 2% |
| Germany | 2.23 | 2% |
| Total top 10 | 60.20 | 62% |
| World total | 97.26 |
- India became the second largest refiner in Asia in May 2018.
- The top 10 oil producers and share of total world oil production in 2022
| Country | Million barrels per day | Share of world total |
| United States | 20.30 | 21% |
| Saudi Arabia | 12.44 | 13% |
| Russia | 10.13 | 10% |
| Canada | 5.83 | 6% |
| Iraq | 4.61 | 5% |
| China | 4.45 | 5% |
| United Arab Emirates | 4.23 | 4% |
| Iran | 3.67 | 4% |
| Brazil | 3.17 | 3% |
| Kuwait | 3.01 | 3% |
| Total top 10 | 71.83 | 74% |
| World total | 97.70 |
World proven oil reserves
According to current estimates, 79.5% (1,243.52 billion barrels) of the world's proven oil reserves are located in OPEC Member Countries, with the bulk of OPEC oil reserves in the Middle East, amounting to 67.2% of the OPEC total.
