Crude producers eye India as global exploration activity dwindles- S&P Global
This story was originally published at 19:42 IST on 19 May 2025
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MUMBAI – With crude oil exploration activity dwindling around the world, many producers are looking at India as an investment opportunity, S&P Global said in a report Monday. Recent regulatory changes in the country present an opportunity as India looks to enhance crude oil exploration and development to achieve self-sufficiency, it said.
The report noted that production of liquids in India has declined consistently while its gas markets are expected to grow significantly. Although renewables and power generation have environmental credentials, these do not support government revenue buoyancy in the same way as the petroleum sector, the report said.
Several international oil companies are facing selective portfolio exhaustion and are seeking fresh avenues of growth. "Although most IOCs (international oil conpanies) and NOCs (national oil companies) have reported mixed success in India's energy markets so far, India continues to hold promise of being a large growth market," it added. End
Reported by Ashutosh Pati
Edited by Deepshikha Bhardwaj
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