Summary
India’s current oil and gas sector reform is primarily focused on opening-up his strategic sector to the privatization.  This reform is designed to reduce oil deficit and achieve energy self-sufficiency in the country.  It also prompted by concern with heavy dependent on the volatile Islamic block of the Arabian Gulf for oil requirements. With the growth of the Indian economy in recent years, the demand for petroleum products is predicted to increase nearly four times from the present 96 to 369 million tones per annum in 2020. to meet these requirements through market mechanism, India’s deregulation policy has now attracted both the national and international oil and gas majors.  This follows the vast business opportunities in oil exploration, refining, retail marketing of petroleum products and natural gas supply through pipelines. The author in this book argues that, with the liberalization of the oil and gas market at the global level, the climate of Indo-Gulf energy relations would now be of an interdependent nature. In this context, he also focuses on the investment strategies of India’s ‘Hydrocarbon Vision 2025’, which has greatly attracted the OAPEC countries such as Saudi Arabia, Kuwait, Qatar, Oman, UAE and Iran. These countries have initiated the joint ventures in India’s oil and gas sector. This new scenario would in particular help to reduce the energy threat, which India has been facing from this region for last three or four decades.