Oil Saga - The OPEC Oligopoly

- by V. Venkata Raghvendra *

Previous

Page - 10

Impact of High Oil Prices on Indian Economy

Impact of oil prices will be more on India because the usage of crude oil is more because of industrialization, fast rate of growth of population, increase in number of motor vehicles, etc.

Share of commercial energy in total energy use in India has gone up from 29% in 1953-54 to 74.2% in 2006-07, and is expected to go up to 82.5% by 2011-12. The initial shift towards commercial energy use was mainly on account of increased usage of oil. Share of oil in total energy consumption more than doubled from 5.5% in 1960-61 to 13.4% in 1970-71. Share of oil in total energy consumption went up slowly to 24.5% in the next two decades and it is expected to stabilize close to that level till 2011-12.

Indian Imports of Different Oil Products in tb/d

Source: Organization of the Petroleum Exporting Countries Monthly Oil Market Report July 2008

From the above graph, we are going to analyze how India is depending on imports of different oil products. India's crude oil imports continued their volatile trend in May 2008, decreasing by 304,000 b/d or 11% compared to the all-time high volume in the previous month to reach about 2.39 mb/d, the lowest average since February 2008.

Next

* Contributed by -
V. Venkata Raghvendra is an Engineering graduate with Electrical & Electronics as background. Currently working as sales promoter for MOTOROLA and pursuing Post Graduate Diploma in Management from Institute of Public Enterprise (IPE), Hyderabad.
Article posted on December 1, 2008.

MBA Jobs	MBA Preparation	B-Schools	MBA Forums	About CoolAvenues
Senior Mgmt Jobs	CAT / MAT/ CET	Dean talk	CAT Preparation	Post a Job
Finance Jobs	Admission Alert	B-School Profile	Executive MBA	Advertise with Us
Marketing Jobs	MBA Insider	B-School Diary	Career Help	Contact us
HR MBA Jobs	MBA Admission Process	Summer	GMAT	Privacy
Operations MBA Jobs	English Preparation	MBA News	Companies	Copyrights
IT MBA Jobs	MBA Abroad	MBA Events	B-Schools	About CoolAenues
Consulting MBA Jobs	CAT / MAT / CET test papers	MBA Placements	Summer Guidance
Resume Design Tips	MBA in India	Summers Guide	Classifieds

© All Copyrights exclusive with Zebra Networks
Part or full of the contents can not be published, copied or reproduced
in any form without the prior written exclusive permission of Zebra Networks. Pls refer to CoolAvenues Copyright section.