Subscribe  Log in | Register | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Rise of Brics challenges oil world order
The five economies are shaking up global markets, and they could be on the cusp of a major break from the existing order
Russia-India crude trade poses challenges
Western banking sanctions and the crude price cap cause headaches for New Delhi and Moscow
India gears up for greater gas use
LNG cargo at Dhamra terminal arrives amid shift to securing supplies and capping prices
India sees crucial role for oil as it eyes investment
Director general of Fipi oil and gas industry body optimistic on E&P success and foresees a doubling of refining capacity over next ten years
Subdued Asian LNG interest produces large stockpiles
Weak prices support demand but mild weather, delayed gas projects, large reserves and nuclear alternatives set to blunt upturn
Global LNG analysis report 2023 – Part 2
The second part of this deep-dive analysis looks at liquefaction and regasification developments in the Middle East and Asia-Pacific
India steps on the gas pedal
Substantial increases in pipeline infrastructure over the next two years are expected to supercharge gas consumption
Letter from India: Russian imports remain dominant
India’s newfound reliance on discounted Russian crude continues to grow
India cements role as refining hub
The country’s hybrid model of state-backed and private refiners, often collaborating, continues to enjoy success
Outlook 2023: China’s and India’s changing barrels
World’s two most populous nations are central to global oil demand, but in different ways
India is looking to reduce its reliance on imported crude
India ONGC
Yogender Malik
New Delhi
7 November 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

India seeks to trim crude import dependence

But ambitious government production targets cannot reverse years of underinvestment and mismanagement

India has been one of the fastest-growing major economies over the last ten years, and this trend is likely to continue. Its expanding economy is also highly dependent on imported crude. In the financial year ending 31 March 2022, the country imported 85.6pc of its crude. that import dependence makes India especially vulnerable to international price shocks. Conversely, even a 1pc reduction in import volumes—through, for example, domestic substitution—would save India $1.406bn, based on volume and prices over the last 12 months. Declining crude production India is not endowed with huge oil reserves but has also not been able to effectively tap the resources it does have or make new discoveri

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Carbon Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

 

Already registered?
Click here to log in
Subscribe now
to get full access
Register now
for a free trial
Any questions?
Contact us

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Letter from Iran: Tehran's dreams and Moscow's deceptions
Opinion
7 June 2023
Russia is making a show of support for Iran as the two nations strengthen their ties, but the promised investment may never materialise
Saharan pipeline projects must seize European opening
5 June 2023
The proposed mega-projects linking Nigeria to the Mediterranean and beyond face significant hurdles, but there are strategies that could help them advance
Asia’s NOCs chart paths to decarbonisation
5 June 2023
But none of the companies are poised to abandon oil and gas anytime soon
Exploration basins of the future
2 June 2023
Exploration has rebounded since the pandemic while also becoming more focused. Petroleum Economist looks at the basins likely to see the most upstream activity over the coming years and at developers’ investment criteria

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
  • Twitter
Tweets by Petroleum Economist
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
Cookie Settings
;

Search