IOGC 2006: India's premier
petroleum industry conference
Key
facts & figures on the Indian Oil & Gas market
Demand
Growth
In 2002, India replaced Germany to become the fifth largest energy
consumer in the world. The Indian economy has grown at 8.2 percent
in 2003-2004 and this has been accompanied by robust energy use in
the country. Petroleum products demand has grown from 2.19 million
b/d in 2003 to 2.32 million b/d in 2004. In the longer term, robust
growth is projected in demand for petroleum products led by transport
fuels and LPG. This trend of high demand growth is also dominant in
the natural gas sector.
Natural
Gas
Gas is the fastest growing fuel in India s energy mix and gas demand
increased from 2.8 bcf/d in 2003 to 3.15 bcf/d in 2004. Gas consumption
in India is expected to rise over 10 percent from 2005-2010 in the
light of increasing LNG imports as well as the domestic discoveries.
India is waking up to the high gas prices for LNG imports. In the
future gas pricing and de-regulation will play a key role in shaping
India s thriving gas economy.
Refining Capacity
India's refining capacity nearly doubled between 1998 and 2005. This
wave of refining capacity additions is here for a rebound. India will
add more than a million barrels per day of refining capacity through
2010 if all projects on the board materialize. Indian exports (on
a net basis) will exceed 900 kb/d by 2010 surpassing South Korea to
be the 2nd largest refined products exporter in the region. India
has also graduated to more stringent product specifications and this
has affected short term trade flows.
Deregulation
On the policy and regulatory front, the issues of privatization and
de-regulation continue to provide challenges due to lack of political
consensus. While the Administered Price Mechanism (APM) stands dismantled
in theory, marketing companies have little autonomy in pricing decisions.
Cross subsidies in LPG and Kerosene continue while the effective duty
protection available to domestic refiners has been
progressively reduced.
These opportunities and challenges are proving to be an exciting time
for the Indian oil and gas sector. With new product specifications,
setting up of grass root refineries, overseas acquisitions and construction
of new LNG terminals, India will play a significant role in the global
energy market.
Using a high quality information exchange platform,
IOGC 2006 will provide you with the opportunity to review, examine
and take advantage of these key issues. It will also present you with
the perfect opportunity to network with your peers and counterparts.
Outstanding
speakers
The list of speakers for IOGC over the 1995 – 2004 period comprises
some of the international oil industry s most respected and distinguished
names. Continuing in its tradition of excellence, more than 50 senior
echelon oil industry speakers, including senior government officials
from state owned oil companies and the oil majors are expected to
address the event.
|
