December 1, 2023: India imports over 87 per cent of its crude oil demand. Russian crude which made an amazing foray into Indian market by touching a share of 40 per cent was marginally down in October. But the fall was sharp in the case of OPEC’s share. Click column Special Database for details.

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November 30, 2023: Shale gas is a mixture of naturally occurring hydrocarbon gases that are produced from the decomposition of organic matter. It consists of 70% to 90% of Methane (CH4). India is rated to have promising shale oil and gas reserves. But all efforts to find it have drawn a blank so far. Click column Gas Scene for an update.

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November 27, 2023: Single agency needed to acquire overseas energy assets. A growing economy needs energy – lots of it. India is growing in almost every area except domestic oil production. At present, domestic oil production meets only 12 per cent of demand. For a country of India’ size and speed of growth, the most sensible option is to acquire oil and gas assets overseas. ONGC Videsh started the process of acquiring oil and gas assets overseas more than three decades ago. It acquired assets in 32 oil and gas projects spread across 16 countries with a combined annual production of 19.5 MMTOE. Later, Oil India, IOC, BPCL and GAIL started acquiring assets overseas, but the acquisition scene today presents a picture of colossal inefficiency and complete lack of imagination. Click Free Access column Petro Intelligence to read an exciting piece.