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Oil & Gas Industry

India’s demand for oil & gas will be highest in the world in next decade. Currently it is 3rd largest consumer of oil and 2nd largest refiner in Asia

IDEX India Products for oil & gas Industry

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Key Industry Highlights:
  • Rising Oil Demand: India’s Oil Demand is set to be 9.8 bbl/d by 2040 more than any other country due to its growing economy & automobiles sector
  • India aiming to be Asia’s LNG trading hub: Govt. plans to LNG terminals capacity from current 27 MTPA to 47.5 MTPA by 2022, adding 11 new terminals in 7 yrs.
  • Hydrocarbon Vision 2030: To increase exploration of oil and gas reserves by attracting private players with $ 20 Bn investment
  • Discovered Small Fields Policy which offered 67 discovered small oil fields in 46 Contract areas ONGC & OIL for international bidding
  • IOCL plans to increase pipeline network for bulk of its petroleum product transport into long-distance pipelines & will add 7,550 km of long-distance pipeline for petroleum products.
  • Bio refineries: Set to be the next environmentally friendly fuel to reduce India’s import dependence on crude oil with pilot plant being operation for large scale adoption
  • Fall in Rig & Oilfield Services Cost: Globally falling crude oil prices have reduced cost of rigs & oil field services by 25-30% which has benefited explorers like ONGC
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To know more give us a call on 1800 267 995 (toll free) or drop us an email on info.fmt@idexcorp.com.

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