India s oil reserves meet 25 Percent of the country s domestic oil demand. As of 2012, India s total proven oil reserves of 5.5 million barrels 870 million litres , while gas reserves stood at 43,800 million cubic feet 1,240 million cubic metres . Oil and natural gas fields are located offshore at Mumbai High, Krishna Godavari Basin and the Cauvery Delta, and onshore mainly in the states of Assam, Gujarat and Rajasthan. India is the fourth largest consumer of oil in the world and imported INR726386 crore US$110 billion worth of oil in 2011 12, which had an adverse effect on its current account deficit. The petroleum industry in India mostly consists of public sector companies such as Oil and Natural Gas Corporation ONGC , Hindustan Petroleum Corporation Limited HPCL , Bharat Petroleum Corporation Limited BPCL and Indian Oil Corporation Limited IOCL . There are some major private Indian companies in the oil sector such as Reliance Industries Limited RIL which operates the world s largest oil refining complex.
As of December 2011, India had an installed power generation capacity of 233.929 GW as of December 2013, of which thermal power contributed 68.31 Percent, hydroelectricity 17.05 Percent, other sources of renewable energy 12.59 Percent, and nuclear power 2.04 Percent. India meets most of its domestic energy demand through its 106 billion tonnes of coal reserves. India is also rich in certain alternative sources of energy with significant future potential such as solar, wind and biofuels jatropha, sugarcane . India s dwindling uranium reserves stagnated the growth of nuclear energy in the country for many years. Recent discoveries of natural uranium in Tummalapalle belt, which promises to be one of the top 20 of the world s reserves, and an estimated reserve of 846,477 metric tons 933,081 short tons of thorium about 25 Percent of world s reserves are expected to fuel the country s ambitious nuclear energy program in the long run. The Indo US nuclear deal has also paved the way for India to import uranium from other countries.