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Power, Oil Gas

Overview

The oil and energy sector in India is one of the core industries in the country’s economic fabric that influences decision-making and impacts its future growth. Ever since oil deposits were found in the 19th century in Assam, the industry has seen significant growth and today contributes to over 15% of the country’s GDP.

With India increasingly becoming more of a global player and undergoing major developments, the oil and energy sectors are witnessing a steady rise in investment, private sector engagement, and global interest. India is one of the biggest consumers of oil and with its economy continuing to improve and develop, the country’s dependency on oil imports is likely to increase further.

 

The Oil and Energy Sector in India: A Snapshot

Key Stats
  • Fuel consumption increased by 10.7% in 2016, an all-time high over the past 16 years
  • India is the third largest energy consumer in the world
  • India imports more than 60% of crude oil to meet its requirements
  • As income levels rise and a rising Indian middle-class finds itself with an enhanced disposable income, demand for automobiles is rising significantly
  • Fuel consumption in India reached a 16-year-high in 2016
Challenges
  • Inordinate amount of delays due to various factors for project completion
  • Acute shortage of labor, materials, and equipment
  • Frequently fluctuating prices of materials like cement and steel has led to price inefficiencies
  • Fund raising is difficult because of the unstable nature of the industry
Trends for the future
  • A swathe of reforms are expected to bring in US$25 billion in investments in the next few years
  • India’s potential in the industry is immense since 78% of its sedimentary land is unexplored
  • The introduction of the New Exploration and Licensing Policy (NELP) has given a huge boost to the sector leaving the door open for more opportunities
  • The focus is now on natural gas and the Indian government has announced plans to invest US$20 billion in natural gas prospects in 2016

Selective Consultants in the Oil and Energy Sector

Our dedicated team of professionals are trained in dealing with the unique challenges of the sector. And what are the challenges?

Talent is in short supply while demand is soaring as the industry undergoes major changes opening up more opportunities.

E&Y estimates that India has an urgent need for at least 25,000 professionals in the sector in the next five years due to an aging workforce, peak retirement period, and the serious lack of highly specialized personnel.

India currently imports more than 80% of its crude oil requirements. It’s an unhealthy reliance the government is trying hard to reduce. This requires professionals who can adapt, be flexible, and provide an edge to businesses.

Our Expertise

How We Help

  • Our experts leverage their vast network in finding that highly skilled professional who will be the perfect fit
  • We know that this is a very different and unique industry in comparison to other corporate sectors and hence the target individual requires a different set of requirements
  • Our knowledge and access to the market ensures speedy execution and right match to your requirements
  • We are associated with the right talent and we know who is seeking change. This gives us an edge to meet your requirements immediately and swiftly