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India's Demand for Petroleum Has Increased Three Times to 10% Per Annum While Domestic Production of Oil Has Declined

Posted on: Friday, 7 October 2005, 06:01 CDT

Research and Markets (http://www.researchandmarkets.com/reports/c25364) has announced the addition of India's Energy Sector (2005-2010) to their offering

At the time when the Government of India has succeeded in its reform process, the economy is poised to grow at an annual rate of 5% during 2005-2010. The reforms include policies to woo foreign investors, make import duties in compliance with WTO commitments and customize the EXIM policy to boost imports. Encouragingly, these policies have had a favorable impact on India's energy sector. With declining costs in oil imports, the government has promised a vibrant production in domestic energy by facilitating conditions for private and foreign investments.

A market research report called "Indian Energy Sector: A Market Analysis (2005-2010)" discusses among other things, the current government policies on energy sector, efforts in increasing energy capacity in the Caspian and Asian belt and, the strategies for managing India's energy needs at home and abroad. The report measures the impact of economic, political and regulatory environment on the industry. It also makes an analysis of the installed capacity of renewable energy sources in the country, the implication of government policies and the pilot projects undertaken in the said sector.

According to the report's statistics, India's demand for petroleum has increased three times to 10% per annum while domestic production of oil has declined, thereby pressurizing on the country's imports. To this effect as the government has subsidized production of oil products and their prices; it has resulted in monetary loss to the government exchequer. It is estimated that demand for natural gas would be 1.2tcf by 2010 and 1.6tcf in 2015. With an increasing need to find more sources of renewable energy, the government has launched pilot projects being acclaimed by the world, built new refineries, privatized the power sector and reduced energy related urban pollution. All these are to overcome bottlenecks in the energy sector and to continue economic growth.

Companies featured in the report include:

- Gas Authority of India Ltd (GAIL)

- Bharat Petroleum Corporation Limited (BPCL)

- Gujarat Industries Power Company Limited

- Gujarat Refinery Corporation Ltd

- H P State Electricity Board

- Indian Oil Corporation Limited (IOCL)

- Mahanadi Coalfields Limited

- Madras Refineries Limited

- National Hydroelectric Power Corporation Limited (NHPC)

- Nuclear Power Corporation of India Limited (NPCIL

- Reliance Energy Limited

- Indian Petrochemicals Corporation Ltd (IPCL)

- Oil and Natural Gas Company (ONGC)

- Gujarat Gas Company Limited (GGCL)

- Mahanagar Gas Limited (MGL)

- Indian Renewable Energy Development Agency

- Neville Lignite Corporation Limited

- Singareni Collieries Co. Limited

- Gujarat State Petronet Ltd.

- Energy Solutions (India) (ECIL)

For more information visit http://www.researchandmarkets.com/reports/c25364

Source: Business Wire

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