Topics Covered
• Overview of the oil industry
• Major companies in oil sector & their briefings
• Some statistics regarding oil sector in India
• Challenges faced by the oil sector in India
• ONGC Limited
1. Introduction
2. Composition
3. SWOT Analysis of ONGC
4. PEST analysis
5. Matrix showing the risks
• Conclusion
• References
Overview of the Oil Industry
In current scenario there is one section in economy which is really hot and boiling and it is oil sector. With crude oil at $146 per barrel and raring to cross $200 per barrel this sector is suddenly giving sleepless nights to all the major economies of the world & suddenly going down to close to $47 overnight, it also showed that this particular sector is also quite unpredictable in nature. It is also responsible for increase in inflation throughout the world. The major oil consumers are US and China with India at sixth position the irony is that none of these countries is major producer of oil so they have to rely on other countries like OPEC, Russia for their needs. OPEC (organization of petroleum exporting countries) has 11 member countries and they together account for 40% of total oil production in the world and they have the market share of around 78% in potential crude reserves. As OPEC is the largest exporter of oil so it directly impacts the price of crude oil in the market. The whole oil sector is divided in to two categories
Upstream – It involves exploration and production of crude oil. With limited crude reserves on the earth this field is always a matter of serious thinking among all the countries.
Downstream – It ...