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The hydrocarbon sector is one of the six core industries in India. It plays a pivotal role in influencing decisions across other important spheres
The hydrocarbons sector consists primarily of the Oil and Gas industry and is among the 8 most vital sector of the economy. The growth and progress of a number of other industries is dependent on this industry. Since the energy requirements of the country are fulfilled by this sector, it is projected to grow. This makes it extremely attractive for investments both foreign and domestic. The government has also taken a number of initiatives to promote growth in this sector.
Hydrocarbons are divided into a number of sub-sectors, Oil Refining & Marketing, Exploration & Production, Gas Processing, Petrochemicals, Pipelines and CNG, and Construction and Services (Specific to Hydrocarbons Sector)
Oil Refining & Marketing is an important segment for India. India has seen increased deregulation of petrochemical product pricing by the government in recent years. This has increased onus of profitability management on the oil refining and marketing companies. It is expected that volatile earnings will prompt these companies to explore upstream opportunities to provide long-term stability.
The Exploration and Production is a booming segment of this industry. Indiaâs oil reserves are the second largest in the Asia-Pacific region. Deregulation of the hydrocarbon industry by the government will also push investments in this segment. This sector holds great importance as Indiaâs demand for gas is expected to increase in the coming years.
Gas Processing, Petrochemicals, Pipelines and CNG sub-sector is the driving force behind the success of the Oil and Natural Gas industry. Since its inception, this sub-sector has proved to be the most important across all sectors. With increasing demand in both the domestic and global markets, technological advancements, this segment is destined to reach new heights.
The Construction & Services STHC has unrestricted growth potential. With hydrocarbons being used everywhere, this sub-sector branches out across industries.
Related Sub-Sectors
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Oil Refining & Marketing
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Exploration & Production
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Gas Processing, Petrochemicals, Pipelines and CNG
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Construction and Services STHC