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India's Oil and Gas Sector Continue to Grow in Second Quarter of 2014

Market Research Reports, Inc. has announced the addition of “India Oil and Gas Report Q2 2014” research report to their offering. The report includes 10-year forecasts to 2023.


Lewes, DE -- (SBWIRE) -- 02/24/2014 -- Q2 2014 should see some significant changes in the Indian oil and gas sector. Firstly, the government set gas price will double to US$8.4/mnBTU on April 1 creating greater incentive to invest in more costly and technically challenging gas resources. This will be supported by the opening of the NELP X licensing round, where India is due to offer 46 new blocks allowing companies to prospect for all types of hydrocarbon resources, including shale. However, also introduced for NELP X will be a change from profit sharing contracts to revenue sharing contracts. We believe this could dissuade interest from a number of major international oil companies, particularly at more technically challenging developments.

Gas demand in India is rising fast across the industrial, residential and power sectors and consumption has risen by almost 400% since 1995. Average annual demand growth of about 5% is forecast over the next several years, accelerating as domestic field development and liquefied natural gas (LNG) import deals make more gas available. While gas consumption faltered in 2013 due to supply curbs, report expect demand growth to return 2014 and rise to 80bcm a year by 2018.

India's refining sector continues to grow at a strong pace through the addition of both Greenfield and expansion projects. Refining capacity in 2013 stood at around 4.3mn b/d, though we expect almost 1mn b/d of additional capacity over the coming five years. By 2018 we forecast India's refining capacity will reach just under 5.3mn b/d. With a growing refining sector and increasing domestic oil demand, India overtook Japan to become the third largest importer of crude in the world in 2013.

The report contains detailed SWOT analysis of the industry, competitive landscape and company profiles, regional overview and global industry overview.

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