Oil Refinery in India

India’s economy is booming! With large decreases in poverty, increases in literacy and GDP, India is continuing to make its way out of the third world and into the first. India is predicted to surpass even China in growth by 2050. A competitive private capital market has instilled Indians with a low cost high quality mentality and has resulted in some of the highest return rates for any country. India has been averaging 6% growth compared to China’s 9.5% with half the investments. India capital efficiency is one of its strongest economic benefits.

The Indian economy following the 1991 crisis swiftly moved away from central planning economy towards market-based economy with the government having less intervention and control. As a result, companies were operating in what is called emerging

Several growth factors contribute to India’s burgeoning national and global economic presence. Having the largest population of youth on the planet means that India’s workforce is surging, especially in the areas of agriculture and manufacturing. The nation’s growth in production, income, and education leads to a rising middle class consumer base. Finally, the growth of India’s economy is facilitated by political leadership changes and government initiatives that favor an open economy and global competition.

Australia’s petroleum industry consists of two broad areas of operation: upstream and downstream. Downstream operations are divided into three sectors—total supply (including refining and importing), wholesale and retail while upstream operations consist of the exploration, production, and export of crude oil. This paper emphasizes on the retail petroleum industry that distributes refined petroleum product to end-consumers throughout Australia, although the other sectors will also be covered in which they impact on Australia’s retail petroleum industry.

 The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.  Members Qatar (1961) Indonesia (1962) – suspended from January 2009 Libya (1962) United Arab Emirates (1967) Algeria (1969) Nigeria (1971) Ecuador (1973) – suspended (1992- 2007) Angola (2007) and Gabon (1975–1994) Having Headquarters in Vienna Austria Since Sep1, 1965.

Venezuela is among world’s leading oil and gas industry holders. It is ranked 13th among the world’s largest oil producers and 10th among the exporters. Notably, it has historically been one of the United States largest sources of oil imports. These key contributions in the world attract experts’ opinions about Venezuela’s future trends in the industry. It is majorly dependent on key factors such as the customer needs, state of economies and the environmental changes in the country.

Pre NELP Scenario of India which includes historical background of Exploration and Production, Petroleum Sector Reforms 1990; entry of foreign companies. Finally, there is the more general consideration concerning complex challenges of exploration. Impact of NELP rounds have been described and compared. Calculation of Government share of profit petroleum has been demonstrated. It also encompasses OALP (Open Acreage Licensing Policy) as the government is planning to shift from the tried and tested NELP mechanism of sharing exploration blocks to an “open acreage system” in the near

The Indian economy is the 12th largest in the world and the third largest in Asia after China and Japan. Of the one billion residents about 320 million have an income that enables them to purchase consumer goods and 25%

With the production of 229,008,126 barrels of crude oil and condensates increased in the third quarter of 2010 with an average of 2.49 million barrels per day of domestic production in recent years, four refineries of 445,000 b/d refining capacity, the issue of meeting domestic oil demand should have been substantially addressed. However, with the 0 – 15% refining capacity in 2009[2], which is often the case over the years, importation became the only available alternative. Hence, Nigeria though a leading exporter of crude oil in the world is also, ironically, a net importer of petroleum products.

Oil and Gas sector is one of the most important sectors and the backbone of all the economic activities across the world. All other sectors are dependent on the growth and activities in this sector. If there is any disruption in this sector, it can cause severe economic crises across the world economy. In this report, I have tried to discuss the four major challenges that are faced to this sector, provide a summary of these issues and then link their impact on the economy of projects. I have also discussed the effect of these factors of the economy, society and recovery of projects. At the end, I will give possible ways to mitigate the potential negative effects. I will also relate this topic to the economy across the world. The country’s economy depends upon the petroleum and gas industry. If there is any change in the petroleum industry, a significant change can be seen in the country’s economy.

India is a developing country and thus the step at which development occurs would clearly be more than that of the developed countries. India thus is a perfect fruitful soil for any new business to bud up and display. It should be highlighted that when recession interfered as an unwanted guest into the global economy, the Indian economy succeeded in surviving with insignificant minor injuries. India is a nation which has a bright history of wonders to showcase who excelled in the various fields of business. It is never the lack of new business ideas in India which remains as obstructing factor, but the restricted capital. A lot of unique products are there in India which remains in evergreen demand. But the primary

Presently the oil refining and distribution sector is dominated by public sector and as the per capita consumption is increasing in India there is a need to add new capacity to meet demand. Globalization had a huge impact on this sector as it bought technological advancements which improved the recovery rate substantially.

India is attempting to do in 10 years what took 25-30 years in other major global markets. However, to-date there is very little understanding of what the impact of

With a booming economy throughout the 2000s, India was touted as one of the most promising major emerging markets. But that breakneck growth sputtered to a decade low in 2012, with many observers pointing to the

Oil India private limited (OIL) is another premier national oil company which was created in 1959. The first gas production in India was started in Assam in 1959 by OIL and the subsequent gas production was carried out by ONGC in Gujarat in 1964. Until the early 1970s the demand for gas in India was almost non-existent but with the advent of ONGC’s Bombay high production in 1974 the demand for gas started to pick up. As the production of gas began increasing it became essential to develop infrastructure and transportation facilities to facilitate the growth of midstream and downstream sector of gas. Consequently gas authority of India limited (GAIL) was created in 1984 with its vital function being to facilitate the transportation of gas from the producers to the consumers which essentially forms the core of the midstream gas sector. Till the 1990s the Indian gas sector was tightly controlled. The government would decide the amount of gas each producer can produce and the price of this gas was also decided by the government. During the early 1990s the government noticed the conspicuous huge gap between the supply of gas and the demand for gas and the need to import gas and raise the consumer prices of gas was recognised. India opened up and liberalised its economy in 1991. Private and foreign investors were allowed inside many of the sectors including the gas sector through new exploration license policy (NELP). NELP also helped in addressing the supply