May 24, 2022: The share of petroleum products from domestic crude processed by Indian refineries has been coming down over the years. In 1970s, the share touched 70 per cent of the total petroleum products. In the just ended FY 2021-22, the share of products from domestic crude which in Indian parlance is called self-sufficiency touched a new low. Click column Special Database for details. 

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May 23, 2022: India’s petroleum marketing is dominated by PSUs such as IOC, BPCL and HPCL. Among the private players the largest marketing network is with Nayara Energy, the subsidiary of Russia’s Rosneft, followed by Reliance combine and Shell. In FY 2021-22, the marketing infrastructure did not make any appreciable expansion. Click column Special Database for details.

May 10, 2022 | BPCL Selloff Jinx: Fix The Regulatory Regime First | Reliance Industries Ltd, Essar and Shell rushed in when the government opened up petroleum retailing for the private sector. Two years later, in 2008 to be precise, crude prices surged and the very same government re-imposed subsidy on sale of petrol and diesel and this was restricted only to the outlets of public sector oil marketing companies. The private players had no other option but to shut down their outlets. They reopened their outlets after three or four years but never recovered from the shock. History can repeat itself. No sensible foreign company can be expected to enter India’s petroleum retailing business without an unequivocal assurance that such a situation will not recur. Click Free Access column Petro Intelligence to read a comprehensive piece on the subject.