Given the dimmer world economic picture in 2012 compared with last year, total oil demand growth expected to remain the same. Global risks continue to be on the downside of the economic outlook for the remaining of the year, and retail oil prices are in the high side.
Under 11th Plan period, India committed to producing 206.8 mn tonnes of crude oil but actually only produced 176.9 million tonnes or 85.6 percent vis--vis the target.
India will continue to rely significantly on crude oil imports,...
Keep on reading: Oil & Gas in India resists economic slowdowns
Keep on reading: Oil & Gas in India resists economic slowdowns