EMERGING INNOVATIONS USED IN OIL AND GAS SECTOR AND HOW TO TACKLE PRICE VOLATILITY IN PETROLEUM INDUSTRY

Sanya studied in University of Warwick and founded Humsafar in 2016 which is a doorstep diesel refuelling servicing company.

- Sanya Goel

Petroleum Downstream Industry is passing through an Interesting phase. On one hand, climate change activists pushing out fossil fuels and also increased presence of Natural Gas world over as a part of Energy mix. India can’t be an exception to these trends. In fact, these changes may present a unique opportunity from the point of view of dependence of country on imports. However, the newer forms of fuel be it Natural Gas, Electricity, Solar present their own set of challenges as Country is not blessed with required Natural Resources and largely looking at west and elsewhere for the Technology and raw inputs.

Let us look at the Broad Trends happening, Unique opportunities these present while all Stakeholders join hands to overcome hurdles.

Industry Trends

Growth of Renewal and Clean Energy

Though, Liquid fuels form bulk of Energy sources today, however, there are 3 major contenders 1. Natural Gas 2. Electricity 3. Solar. Though, one may argue that Biomass including Ethanol, Bio-waste also need to figure here.

Immediate provocation is the crying need for cleaner Energy world over at large, especially in Urban centres to begin with. Handling of Biowaste and its disposal also presents a case in urban Centres.

In India, too, Natural Gas has witnessed aggressive expansion in the last 5 years through various CGD Licensing Rounds. LNG is however, promising to be a game changer for Heavy vehicles, long distance travels with lesser space needed for its storage. Govt of India has also advised its rollout independent of CNG. Similarly, in the space of Electric vehicles, a few pilots have been done. Finally, it would need a coordinated efforts on part of Petroleum, Power Industries, OEMs and Municipal Corporations to free space and also manufacture e-vehicles for its use.

Expansion of Fuel portfolio