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A new assessment by the Directorate General of Hydrocarbons (DGH) has revealed that India possesses 42 billion tonnes of oil equivalent reserves. Oil reserves in India were projected to be around 28.09 billion tonnes in 1996. The newly assessed data shows a 49% jump from the previous estimates. The report claims that the Mumbai Offshore and Krishna-Godavari basins contribute the most to the country’s energy future with the maximum reserves.