Oil and Gas
Oil and Gas
The oil and gas industry in India dates back to 1889 when the first oil deposits in the country were discovered near the town of Digboi in the state of Assam. In regions which house the major NOCs, this sector is so vital they often contribute a significant amount towards national GDP. It is the most crucial industry in the world in terms of the dollar. This sector is a global powerhouse using hundreds of thousands of workers worldwide and generating hundreds of billions of dollars globally every year. The most massive volumes of products in this sector are fuel oil and gasoline (petrol).
This sector recovered the oil markets from the depths of the post-2014 downturn. Since 2016, oil prices have recovered from $40, reaching $67 in Sep 2018. The recovery happened due to several factors. One of them is the success of the production restraint agreement between OPEC and non-OPEC countries, which is in force since the beginning of the mid-2017. Other factors that influenced the recovery of oil and gas markets are the less oil coming to the market from challenged producers and the ongoing global demand growth estimated by the EIA.
The primary direction in the Oil and Gas Industry in 2019 is the Oil and Gas supply. Problems will influence the Oil and Gas supply, such as the problems with Venezuela and Iran, as well as Qatar’s exit from OPEC. The second trend is the Energy Outlook. In past years, the input of gas influencers online, industry whitepapers and journalism give a better and more realistic, expert overview of what is happening and future expectations in this sector. Energy policies are the third trend, which includes the decisions, from the US Department of Energy and by other organizations as well.
The oil and gas global supply-chain includes activities such as domestic and international transportation, ordering and inventory visibility and control, materials handling, import/export facilitation, and information technology. Every Supply Chain in large industries involves configuration, management, and continuous improvement of a sequential set of operations that includes multiple parties. The goal in SCM is to deliver maximum service to the customer at the lowest cost possible.
How can we help?
We have vast experience with clients in the Oil & Gas sector, which enables us to devise your financial, tax, entry strategy, entity strategy, foreign direct investment strategy and regulatory strategies in an informed manner to enable your Oil & Gas business to derive the desired value and results.
For our research paper on Industry opportunities and analysis please download our report: