Black money announcement: Little impact on oil & gas industry
Nov 09: The oil and gas industry will see little impact from Narender Modi's announcement banning black money. 8Given the predominance of the state sector companies and the accountability systems in vogue in this segment, the announcement will have no impact on the industry. 8There could at best be a temporary fall in petrol and diesel consumption as consumers transit from old to new bank notes. 8Other consumer facing interfaces may see a temporary respite. 8oil sector involves big investments and all transactions are accounted for, and to that extent the impact of the announcement is negligible. Click on Reports for more.