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Indian oil & gas story: Not very rosy, as of now
Jul 23: The Indian oil & gas story continues to be poorly scripted for now and the current year seems to be witnessing a particularly bad year. Both oil and gas production is lower than what it was for the same period last year.
8Rapidly depleting existing resources are not being replaced as quickly with new production, even as consumption soars.
8This is so even as the oil import bill is slated to soar 24% from $88 billion in 2017-18 to $115 billion in 2018-19.
8Depending upon whether the gas is half full or half empty, LNG imports are up 20% despite higher prices.
8It seems next to impossible now to pull back the inexorably rising import dependency levels for crude and gas.
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