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A country which is heavily import dependent for its crude oil supply to meets demand should have such aspirations, is it logical?
In the latest episode of the EnergOnomics podcast, businessline’s Richa Mishra speaks with Ellen R. Wald, President of Transversal Consulting, on India’s goal to establish itself as a global refinery hub.
Drawing parallels with China’s refinery strategy, Ellen emphasises the critical need for investment, and a customer base for such ventures.
Despite India relying heavily on crude oil imports, Ellen suggests that its economic structure has advantages over China’s state-run model, potentially offering more profit for independent refiners.
India’s closeness to energy-demanding regions like Pakistan, Bangladesh, and Africa, along with the recent shift in European oil procurement away from Russia, provides a big market opportunity for Indian refined products.
Diplomacy plays a key role in the energy market. Ellen shares instances where strategic partnerships between governments and businesses have led to positive outcomes for both sides.
Listen in!
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