Annual Information Service
India Oil & Gas
|Published by||Fitch Solutions, Inc.||Product code||177588|
|Published||annual subscription||Content info||98 Pages|
|India Oil & Gas|
|Published: annual subscription||Content info: 98 Pages||
Upstream performance will continue to diverge over the coming years, with firming production and new inflows of capital into gas counterbalanced by sharp underperformance in crude. Small field auctions will help offset natural decline rates, but the prospects for major greenfield investments in oil are poor. New reforms - which have improved licensing procedures and fiscal terms - pose additional upside in the coming years. The refining sector will continue to grow, feeding rising domestic demand and competing for market share abroad. However, rising global oil prices will see profit margins for some refiners becoming squeezed. We are bullish on the prospects for demand for both oil and gas over the long term, but a sharp deterioration in the 2020 economic outlook poses headwinds to growth next year.