Future of Oil & Gas in a Tense Climate
Ninad RamdasiCategories: DSIJ_Magazine_Web, DSIJMagazine_App, Editorial, Letter to Editor, Letter to Editor
DSIJ magazine has reliably provided timely and insightful recommendations of current market trends and developments.
DSIJ magazine has reliably provided timely and insightful recommendations of current market trends and developments. In light of the ongoing Middle East tensions and U.S. recessionary concerns, I am keen to learn more about the prospects of the oil and gas industry. Could you please provide further details? - Anupam S
Editor Responds: We appreciate your words of encouragement. Recently, oil prices lingered at eight-month lows amidst fears of a recession in the U.S., the world’s leading oil consumer, and concerns that escalating tensions in the Middle East could impact supplies from the largest oil-producing region. India, one of the largest importers of crude oil, stands to benefit from the significant fall in oil prices.
On the other hand, India’s state-owned fuel retailers including Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) have reported a significant 75-90 per cent drop in their net profit for Q1FY25, impacted by declining refining margins. This tense situation requires a detailed analysis. Our forthcoming edition on the oil and gas sector will explore recent developments, challenges, opportunities, and future prospects. Stay tuned for valuable insights!