Budget 2019 wishlist: Here are the key challenges for oil and gas sector



Declining domestic crude production: Most of the producing fields (in Cambay, Assam-Arakan and Mumbai Offshore) are maturing or have already matured. Due to inadequate new oil and gas discoveries and subsequent development, India is witnessing a decline in crude production.

Large crude import bills: In 2018-19, India imported more than 80% of its crude consumption and spent in excess of $110 billion. Union Budget 2019
Inadequate transmission & distribution infrastructure: India needs to invest heavily in midstream and downstream sector to overcome infrastructure constraints in LNG, gas pipelines and CGD.

Technology constraints: The country needs investment in exploring and developing Category-2 and Category-3 basins. However, Indian operators do not have the requisite technology and experience in this area. Low share of MNCs: Despite being one of the largest consumers of energy, India has a low share of MNCs in the domestic market.

Environmentally friendly fuels: India continues to rely heavily on coal and petroleum products to meet its energy needs.
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