Corporate Strategy Case Study

Indian Oil Companies' Race for Self-Reliance: Risks And Rewards

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Abstract:
Despite being the single most important source of energy in India, oil is imported in huge quantities from countries like Saudi Arabia, Kuwait, Iran, UAE (United Arab Emirates) and Malaysia. Being the seventh largest consumer of oil in the world coupled with its inability to produce sufficient quantities to meet its domestic needs, makes India highly vulnerable to the fluctuations of the international oil prices. Moreover, the huge amount of money that is spent on importing the precious oil has prompted India to strive and achieve some level of self-sufficiency in this sector.

Pedagogical Objectives:

• To discuss the initiatives of the Indian government to become self-reliant in oil amidst several potential problems and risks in the backdrop of over dependence of the Indian economy on imported oil

Keywords : India's total energy consumption, Oil imports of India, Fluctuations in global oil prices,Government and Business Environment Case Study, Factors affecting global oil prices, India's oil reserves, Oil companies in India, India's dependence on imported oil, New Exploration Licensing Policy (NELP),Business Environment Case Study, Deregulation of the Indian oil sector, Risks and problems of India in foreign oil explorations, India-Total Primary Energy Supply, Oil explorations in India, Bhopal gas tragedy, 1984, India's energy profile between 1999-2020