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Oil & Gas : The New World Order |
Taking advantage of the brief visit to India of Mr. Carl Hughes who leads the Energy, Infrastructure and Utilities practice in U.K. of Deloitte Touche Tohmatsu, the Petroleum Federation of India organised a lecture by him on June 30, 2009 at New Delhi.
Chairing the session, Sh. B.M. Bansal, Director (BD & Planning), IndianOil drew attention to the volatility in the market in a period of global economic downturn which, he said, was affecting investments in the sector.
Mr. Carl Hughes, drew on his 20 years’ experience of the oil and gas sector to dwell on the strategic contours of the changing face of the industry and emerging new world order. Fiscal deficits of nations and oil price volatility are becoming stumbling blocks for investment for the sector in the short term, he said. Emerging economies that tie in energy needs with economic growth in the long term could, he added, ease the market by making appropriate investments. Energy should remain affordable for consumers and corporations should adopt a path of sustainable growth with good corporate governance, he said.
A lively interaction followed his address.
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Session Chairman Mr B M Bansal, Director(BD&Plg), IndianOil being welcomed by Mr A K Arora, Director General, PetroFed.
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Session Chairman, Mr. B.M. Bansal, Director (BD& Planning), IndianOil (head of the table) delivering opening remarks. On his left is Director General, PetroFed Mr A K Arora and on his right is member Governing Council & Director (Onshore), ONGC, Mr. A.K. Hazarika.
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Mr. Carl Hughes, leader of the Energy, Infrastructure and Utilities practice in U.K. of Deloitte Touche Tohmatsu, delivering his lecture.
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Mr Carl Hughes being presented a memento by Mr A K Arora, Director General, PetroFed.
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Mr Carl Hughes delivering his lecture.
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Mr B M Bansal, Director(BD&plg), IndianOil (left forefront) delivering concluding remarks.
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