India’s time to capitalize on oil and gas sector
The moment is opportune to take advantage of shifting pricing and supply dynamics in the oil and gas sector globally
The dominance of oil, natural gas and coal in the global energy mix is being questioned by intensifying carbon policies, technological disruptions in mobility and, to an extent, changing energy geopolitics. A closer look at India’s energy mix reflects a clear trend towards gas and renewables, but there is no imminent danger to demand for oil, forecast to grow at least until 2040. However, oil companies are under pressure to prepare for a possible low-carbon future. There is a fear of being too late to embrace newer energy sources, matched by equally high risks in moving too fast. In such a scenario, oil companies are likely to take a two-pronged approach: diversify into new sources of energy while capitalizing on growth opportunities in conventional forms of energy.