Enhancing Production and Offtake Arrangements
40
40
60
60
20
0
FY10
FY11
FY12
FY13
FY14
83.57
80
80
69.76
100
120
Source - Petroleum Planning & Analysis cell (PPAC)
Impact of Covid on Oil and Gas Industry
On the Global O&G Industry: Outlook on prices for the near term is uncertain due to COVID induced demand destruction and the
supply glut that was previously existing in the industry. Capex investments being deferred by global oil companies
On the Indian O&G Industry: Indian O&G upstream companies have requested for fiscal relief measures like cuts on Royalty, Cess and
profit petroleum and have asked for pricing and marketing freedom for gas. Crude oil prices below $45/bbl are not economical for
future development and exploration
111.89
107.97 105.52
84.16
FY15
FY16
FY17
FY18
FY19
FY20
69.88
60.47
3
56.43
46.17
47.56
4
2
1
0
6
5.05
5
4.66
Oct-14
Apr-15
Oct-15
Apr-16
Oct-16
Apr-17
Oct-17
Apr-18
Oct-18
Apr-19
3.82
3.69
3.36
3.23
3.06
3.06
2.89
2.5
2.48
Price Trends for Crude Oil and Natural Gas
Average Crude Oil Price ($/barrel)
HOEC
Domestic Natural Gas Prices (US$/mmbtu)
Oct-19
2.39
Apr-20
25View entire presentation