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Indian oil majors go slow on lookout for innovations
Jul 11: After the initial enthusiasm over funding start-ups, the public sector oil and gas companies seem to have gone quiet on business diversification attempts.
8When oil prices were down, there was much talk of acquiring smaller outfits that are doing innovative energy related work, with at an eye towards the future.
8The website carries here examples of how very large oil and gas companies are now looking at alternative technologies.
8There was recent acquisition for a mere Rs 15 crore by an oil & gas super giant of a energy use monitoring company which can track the use of electricity in individual household or industrial equipment.
8Clearly, no investment is too small to secure a future where fossil fuel will be less important
8There are lessons here for Indian companies
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