Q.1. Why Globally Future of Petroleum Industries is in doldrum ?Globally Oil & Gas sector as a whole and particularly petroleum

industries all are in doldrums due to following reasons.

Lower Crude Prices Competition from FLNG & shale crude / gas and Renewable Solar Energy Ageing of Equipment causing frequent shutdown/catastrophes Tighter regulation on spills & Emissions Retirement and shortage of skill manpower Lack of real expertize of inspection & reliability expert Poor Margin Increased maintenance and operating cost Lack of funds for integration of refineries with petrochemicals Mandatory regulation for high quality products (Euro V & Euro VI ) Climate of Change & Global Warming

All above resulting increased risk, more cost and high level ofcomplexities to optimize performance of facilities, assets andworkforce. However, in Asia, fate of downstream industries isdiffering region to region. Middle East is fully saturated and lowoil price has broken the backbone of OPEC countries like Saudi &Iran. South East Asian countries including China are fullysaturated in consumption of petroleum and facing the threat ofbig competition. However, in India & Indonesia, where per capitaconsumption of petroleum product is still lowest in the worldtaking the full advantage of low oil price regime and its economyshall grow since it imports most of its consumption of petroleumfrom outside. India is going to become the Pivot for petroleumindustries and Indonesia is emerging as good consumer in Asia.