Indian Oil & Gas Outlook 2015 Market Share and Research Report

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Market Research Report

India faces formidable challenges in providing suffi cient energy of desired quality in desired forms in a sustainable manner at competitive or affordable prices. Yet, none of this is insurmountable. Given that India has explored only 22% of its oil and gas reserves, greater is the potential for enhancing the supply of crude and natural gas for meeting India’s Energy Security, at least in the medium term. This needs to be balanced, at the same time, through further exploration and development so that the spent reserves are adequately replaced through fresh discoveries. At present, the reserve replacement ratio is dangerously below 1 for the oil sector, though gas reserves are holding up. Upstream Indian Companies are fi nancially sound and technically competent like any other global fi rm in this sector to achieve the increasing production targets. In 2014, Indian oil & gas sector witnessed two major developments in the form of phased diesel price de-regulation and hike in natural gas prices. These two developments would have a signifi cant impact on the revenue growth and profi tability in the sector. Prices of global crude oil has declined signifi cantly to around US$ 60/ bbl given OPEC’s (Organization of Petroleum Exporting Countries) decision to desist from production cuts and at the same time slowdown in economic growth of major economies in Europe and Asia. In 2014, Indian oil & gas sector witnessed two major developments in the form of phased diesel price de-regulation and hike in natural gas prices. These two developments would have a signifi cant impact on the revenue growth and profi tability in the sector.

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Since public sector companies in upstream Oil & Gas sector shoulder a higher proportion of subsidy, this...