Oil Refinery in India
Oil Refinery in India
An Industry Overview
Table of Contents
INTRODUCTION 2
GLOBAL VIEW ON REFINING 3
INDUSTRY OVERVIEW 4
REGULATORY FRAMEWORK 8
INDUSTRY ANALYSIS 9
FUTURE OUTLOOK 11
REFERENCES 12
"THE ONCE RELIABLE CONSTANTS HAVE BECOME GALLOPING VARIABLES"
-ALVIN TOFFLER
India the world's seventh largest country and the second most populace nation has been a destination of unrealized potential. In the recent past it has seen as stir of economic activity changing the prim face of the nation. The country has had breath taking reforms bringing in foreign direct investments and foreign institutional investments into the country at a brisk pace. Today India is one of the most exciting emerging markets in the world to be in. A new economic freedom is sweeping every industry in the nation. And one the industries to see a plethora of changes is the "Oil Refining Industry". This industry is of paramount importance as oil is of the key energy source on which other industries are dependent on.
What is Oil Refining?
"Oil refining is an industrial process where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, and asphalt base, heating oil, kerosene, and liquefied petroleum gas."
It's black...& it's not gold!
Having to stare at 15% of the world population with only 0.5% of world oil reserves has been giving the Indian ministry sleepless nights. India's consumption is about 5.9% compounded annually. This sector had long been controlled by the public sector companies and is seeing the savor of private players and competitive growth. New discoveries in the Krishna-Godavari basin and in the Mahanadi Basin are already attracting a lot of foreign attention. Global deals in the oil and gas sector stood at a whopping $291 billion. Some of the major developments seen during the year are BPCL's takeover of KRL, Cairn's pre-IPO placement and ONGC-Cairn's Rajasthan oilfield. Considering the international attention these
An Industry Overview
Table of Contents
INTRODUCTION 2
GLOBAL VIEW ON REFINING 3
INDUSTRY OVERVIEW 4
REGULATORY FRAMEWORK 8
INDUSTRY ANALYSIS 9
FUTURE OUTLOOK 11
REFERENCES 12
"THE ONCE RELIABLE CONSTANTS HAVE BECOME GALLOPING VARIABLES"
-ALVIN TOFFLER
India the world's seventh largest country and the second most populace nation has been a destination of unrealized potential. In the recent past it has seen as stir of economic activity changing the prim face of the nation. The country has had breath taking reforms bringing in foreign direct investments and foreign institutional investments into the country at a brisk pace. Today India is one of the most exciting emerging markets in the world to be in. A new economic freedom is sweeping every industry in the nation. And one the industries to see a plethora of changes is the "Oil Refining Industry". This industry is of paramount importance as oil is of the key energy source on which other industries are dependent on.
What is Oil Refining?
"Oil refining is an industrial process where crude oil is processed and refined into more useful petroleum products, such as gasoline, diesel fuel, and asphalt base, heating oil, kerosene, and liquefied petroleum gas."
It's black...& it's not gold!
Having to stare at 15% of the world population with only 0.5% of world oil reserves has been giving the Indian ministry sleepless nights. India's consumption is about 5.9% compounded annually. This sector had long been controlled by the public sector companies and is seeing the savor of private players and competitive growth. New discoveries in the Krishna-Godavari basin and in the Mahanadi Basin are already attracting a lot of foreign attention. Global deals in the oil and gas sector stood at a whopping $291 billion. Some of the major developments seen during the year are BPCL's takeover of KRL, Cairn's pre-IPO placement and ONGC-Cairn's Rajasthan oilfield. Considering the international attention these
References: 1) Indian Ministry for Petroleum and Natural Gas – http://petroleum.nic.in/oil.htm 2) Indian Brand Equity Foundation 3) New Exploration Licensing Policy - http://www.petrodril.com/nelprounds.htm 4) Bloomberg Terminal 5) Indian Ministry for Commerce and Industry - http://commerce.nic.in 6) http://www.wikipedia.com