• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 hours Reality catching up with EV forecasts
  • 16 hours A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
  • 1 day "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 11 days US Oil Independence is a myth and will always be a myth
  • 6 days The Federal Reserve and Money...Aspects which are not widely known
  • 11 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 15 days Natural gas price to spike when USA is out of the market
  • 14 days "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 14 days *****5 STARS - "The Markets are Rigged" by The Corbett Report
Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

This Nation Just Created A New Corporate Superpower In Oil & Gas

Some very important developments in this oil and gas sector this week. From a place that’s becoming a big mover in global petroleum markets: India.

India’s government officials announced a raft of energy reforms late last week. Including a key reduction of import taxes on liquefied natural gas (LNG) – to 2.5% from a former 5%.

That move is aimed at increasing LNG use across India – meaning this nation could become a critical driver for global demand and pricing.

And it’s not just natural gas where India is making big changes. With government officials also unveiling some key shifts in crude oil markets.

ADVERTISEMENT

For one, the government announced the creation of two new strategic petroleum reserves. Which will see a total of 73 million barrels of oil stored in the states of Odisha and Rajasthan.

That’s nearly double the stored oil inventory that India has created to date. With the government having recently bought 38.8 million barrels to fill three storage facilities around the country.

Much of that crude came from suppliers like Iran – making India one of the biggest crude buyers from this emerging exporter. And the creation of the new, bigger strategic reserves are going to mean even more demand. Potentially signaling a surge in imports here. Related: Crack Spreads Tell Where The Value Lies In Downstream Stocks

ADVERTISEMENT

At the same time, India’s government said it is moving to reform state-owned oil companies. By merging refiners and upstream producing firms, to create fully-integrated energy conglomerates.

Officials didn’t give exact details on which firms will be involved in the shuffle. But the movement appears to be unfolding quickly – with the government saying it wants to unveil the new entities by March 2018.

That should mean some big players appearing on the global petroleum stage very soon. Watch for details on which companies will be combined – these new firms could quickly become important players in global petroleum buying, and project M&A.

Here’s to the national interest.

By Dave Forest

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage


ADVERTISEMENT


ADVERTISEMENT



Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News