Could Privatization Be the Key to India's Oil Production Self-sufficiency?

Published on 26 Sep, 2016

Hoping to boost domestic oil reserves as well as reduce dependency on imports, the Indian Government is opening up 67 oilfields across the country — including 12 small oilfields from the eastern state of Assam — to foreign investments, hoping to make the country more self-sufficient in meeting its demand for oil.

As locals boycott the decision — calling it unfair exploitation — some question whether privatization really is the best move toward fulfilling India’s long-term oil demands.

With Crude Prices Low, Why is Self-sufficiency Important to India?

India is doing well, spurred by favorable climes and economic policies.

The demand for oil in India is expected to peak in the long term, driven by rising income levels, growing demand from the agricultural and manufacturing services sectors, as well as the Indian government’s “Make in India” initiatives.