Despite 6 Lead Players, Indias O & G Production Fall Short.

0 Comments | M2 Presswire, September, 2006

M2 PRESSWIRE-22 September 2006-RNCOS: Despite 6 Lead Players, Indias O & G Production Fall Short(C)1994-2006 M2 COMMUNICATIONS LTD RDATE:22092006 The Indian Oil & Gas sector has six companies - Indian Oil Corporation, Oil India Limited, Gas Authority of India Limited, Oil & Natural Gas Corporation, Bharat Petroleum and Hindustan Petroleum.

The industry is estimated to be worth $94Bn. Despite the presence of these lead players, India imports a large 72 of its oil requirements. The state-owned companies do not perform commercial business and have their agendas determined and driven by the government. To match the country's energy demand with supply, the federal government has initiated a multi purpose program. It also wishes to encourage the oil & gas...