India Finance Brief

The oil & gas sector in India continues to be dominated by the central public sector undertakings. While the influence of private companies in the upstream sector is increasing, state owned ONGC continues to be in possession of the largest acreage for exploration and production. Reliance Industries Limited is the largest private sector player in the upstream sector in India and has gained increasingly important role especially in the gas sector. The gas transportation, distribution and marketing sector is dominated by the state owned Gas Authority of India Limited (GAIL) which enjoys a virtual monopoly on the sector. However, the City Gas Distribution (CGD) sector may seen entry of private companies in the years to come.