The country was also no longer India's supplier of crude oil as Iran has now taken over that spot.
After years of economic sanction, Iran is once again ready to import oil, with India as one of its first partners.
Oil and gas companies are hoping to contribute in dealing with climate change via the Sectoral Decarbonization Approach.
Another good news in the country is its shale-drilling industry stabilizing because of shale producers' capital discipline practice.
Experts believe this is the year the U.S. oil output will replace the record reached in 1970.
Forecasts point to a strong year for the oil and gas industry, although it would not be smooth sailing.
Despite the increase in renewable energy sources, oil and gas continue to be the biggest players in the energy sectors.
Critics, however, are not convinced that Shell, BP, and Exxon are turning over a new leaf.
With lower demand and other oil-producing countries flooding the oil market, an oil price crash could happen next year.
State-run firms were not able to meet the target oil output, prompting the India's DGH to look for a better resolution.