AN ANALYSIS OF MARKETING AND CONSUMPTION TRENDS IN INDIAN OIL INDUSTRY
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India is the sixth largest consumer of oil. There is a huge demand-supply gap in oil and gas in India. The country imports more than 70% of its crude oil requirement. In 2005, oil and gas accounted for 38% of primary energy consumption in India, followed by coal at 55%. As of April 1, 2006. Consumption of crude oil was estimated at 130.11mmt, The production and consumption of petroleum products was estimated at 119.75mmtpa and 111.92mmt respectively. Recently, India has emerged as net exporter of petroleum products.
The Indian Petroleum Industry is one of the oldest in the world oil Industry and it has come a long way since independence. A process of transition begun since mid nineties, it was basically to attract funds and technology from abroad in petroleum sector. The sector in recent years has been characterized by rising consumption of oil products, declining crude oil production. Oil sector is broadly divided into two segments upstream and downstream. The upstream activities consist of two activities i.e. exploration and production of crude oil. Downstream activities include refining and selling crude oil products such as gasoline, jet fuel, petrol, diesel and lubricants.
Marketing or selling of petroleum products is one of the activities of downstream segment which is done by companies like Indian Oil, Bharat Petroleum, Hindustan Petroleum, Reliance, etc.
Some of the marketing initiatives by petroleum companies are as follows:
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(2011, 09). Indian Oil Industry. StudyMode.com. Retrieved 09, 2011, from http://www.studymode.com/essays/Indian-Oil-Industry-771060.html
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"Indian Oil Industry." StudyMode.com. 09, 2011. Accessed 09, 2011. http://www.studymode.com/essays/Indian-Oil-Industry-771060.html.