Shri S. Behuria, Chairman IndianOil & Chairman PetroFed addressed members of the Energy Think Tank on ‘Transformation to Energy Companies: Challenges and Prospects’ at the IndianOil Corporate Office on September 15, 2008. He talked of four challenges to address energy issues, namely dependency on oil, industrialisation of developing countries, effect of human energy consumption on the environment, and energy as political currency.

       The ensuing discussions highlighted the need for oil companies to expand into biofuels and renewables to become energy companies. A pessimist, Mr Behuria said, would be tempted to say that the life of companies who deal in only oil, would be till oil lasts, probably about 40-45 years at current rate of consumption.