Courtesy: bdnews24
India imports 80% of its oil and 80% of the imports are from vulnerable regions. This high-cost, high-risk approach is not sustainable, and the current low price of oil offers India an opportunity to secure its long-term energy needs by taking three concurrent steps: diversifying supply sources, investing in oil fields, and using financial instruments
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Making the climate change transition involves an unprecedented reallocation of capital – and the task is to build the financial architecture that can deliver these flows within deadline. COP-22 has to raise more, cheaper and better quality finance for climate action.
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The sheen is coming off China’s state-owned oil companies, which have been hit by the country’s political churning and by their own excesses of buying assets at the peak of the cycle. Now with oil prices low, India has the chance to make well-priced acquisitions without Chinese competition.
Courtesy: Gateway House
Dharmendra Pradhan, Minister of State for Petroleum and Natural Gas, delivered the keynote during the Power Dialogue on The Geopolitics of New Energy at India’s first Gateway of India Dialogue conference in Mumbai, organised in association with the Ministry of External Affairs. Pradhan's speech discussed the changing trends of energy in the world and how India was positioning itself to have the advantage.
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India needs to act faster to ensure it continues to get energy at an affordable price. The oil price increase to $50 per barrel shows there is a limited window of time to act.
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Relatively low fossil fuel prices have created a favourable climate for the Modi government to secure India’s growing energy needs in a sustainable manner and at fair prices. The government should also encourage locally-built wind and nuclear options to secure India’s long-term needs.
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The U.S. and Canada offer an opportunity for India to acquire large scale oil and gas fields in politically stable countries at a low price. A financial investment in energy companies will protect India against a rise in energy prices without raising concerns in host countries.
Courtesy: Wikipedia
The common Indian complaint is that, despite a global trend of falling crude oil prices, the price of petrol has not reduced. However, if the dollar price is examined with the price of oil, it becomes clear that Indians are paying less for fuel now than they would have, had the 2003 pricing trend continued.
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India could save $80 billion annually if oil prices stay at the current 12-year low. Policy-makers must use this opportunity to lock-in energy prices for the long-term. Financial markets, through futures and options, offer a way to make these savings permanent, and the Ministry of Finance must formulate ground rules for hedging.
Courtesy: Wikipedia
Village-scale solar powered minigrids are the most promising path for India to meet its linked aims of GDP growth and access to electricity for all. The Ministry of New and Renewable Energy is already active on this front, but a comprehensive and standardised national minigrid policy that facilitates private sector involvement and eases financing, will allow this model to flourish