Best of 5 Oil and Gas Companies
By the end of 2021, India regained its position in oil consumption as the third largest global consumer. The economic growth of the country can mostly be attributed to its energy demand. Naturally, the demand for oil and gas is anticipated to increase at a rate of 50% by the year 2030 as compared to a global growth rate of seven per cent for the same period. If we observe the expected energy demand category wise, then according to India Brand Equity Foundation (IBEF), the oil is predicted to grow at double speed and reach a mark of eleven million barrels by 2045, while diesel is also predicted to grow by double to one-six-three metric tons by 2030, with the duo of diesel and gasoline sharing fifty-eight per cent of country’s oil demand by 2045. On the same line, natural gas consumption in the country is expected to grow by twenty-five billion cubic meters – bcm – with an average yearly growth rate of nine per cent by 2024. All these numbers show that the oil and gas industry, whi...