How to sell your oil at rocky mountain oil prices
The rocky mountaintop oil boom has been a boon to India’s economy.
The country’s gross domestic product grew by 6.7 per cent in 2016, its fastest pace since 2013.
Oil prices, meanwhile, have risen to a record high of $US10 a barrel.
The boom has given India a huge amount of new wealth and a much bigger share of global oil consumption.
It has also created a huge financial windfall for many Indians who are benefiting from oil prices that are far below the international average.
In India, the Indian government has made it a priority to boost the growth of oil and gas production, which has seen prices plummet.
It is also investing heavily in renewables and carbon-free technologies, which have also helped India’s economic growth.
The new wealth has been used to support various social welfare programmes, including in areas like food security, employment, education and health, and also to boost investment in infrastructure and to ensure more affordable housing.
Oil and gas companies in India have been using the funds to invest in infrastructure projects, including roads and bridges, power plants, roads and rail, pipelines and other infrastructure.
The government has also made it easier for companies to borrow money and for them to access foreign capital markets.
The government has allowed the sale of oil at $US20 a barrel for a period of five years, a price that was higher than the world average of $20.
India’s biggest oil company, ExxonMobil, has sold about 7 billion barrels of oil since the beginning of the year.
It sold about 8 billion barrels in 2016.
India’s biggest private sector oil and natural gas company, Sinopec, sold about 6.4 billion barrels.
Last year, Exxon bought about 20 per cent of a joint venture between SinopEC and India’s state-owned oil company Hindustan Petroleum.
It plans to use this as leverage to increase the share of foreign investments in its oil and chemicals businesses, according to the New York Times.
India has also seen an explosion in oil exploration, particularly in the Gulf of Thailand and the Indian Ocean.
The United States is the biggest oil exporter to the Gulf region, with $US50 billion in oil and $US35 billion in natural gas exports in 2016 from the area.
A number of large oil and petroleum companies have also been looking for ways to diversify their business and to develop new sources of revenue.
The Indian government is also pushing for oil companies to invest heavily in renewable energy sources, like solar, wind and biomass.
But it is not yet clear how these efforts will pay off.
The US-led coalition launched a $US1 trillion program to combat climate change in 2020, including a new $US200 billion initiative to encourage private companies to develop renewables.
But there is a lot of uncertainty around the Indian economy, said Shashi Tharoor, India’s foreign minister, during his visit to India last month.
It will be an interesting challenge to see how India responds to this, he added.