Released on = June 19, 2006, 10:32 pm

Press Release Author = RNCOS

Industry = Industrial

Press Release Summary = India has six national oil & gas companies. These
state-owned companies are driven by the government's policies. However, there is
shortage of domestic oil production in the country.

Press Release Body = The Indian Oil & Gas sector has six companies - Indian Oil
Corporation, Oil India Limited, Gas Authority of India Limited, Oil & Natural Gas
Corporation, Bharat Petroleum and Hindustan Petroleum. The industry is estimated to
be worth $94Bn. Despite the presence of these lead players, India imports a large
72% of its oil requirements. The state-owned companies do not perform commercial
business and have their agendas determined and driven by the government.

To match the country's energy demand with supply, the federal government has
initiated a multi purpose program. It also wishes to encourage the oil & gas
industry through greater investment, healthy competition and an institutional-based
regulatory system.

To minimize the risks linked with 'short term' supply disruptions, the federal
government has proposed building strategic reserves of crude oil to provide for a
period of 15 days.

There is an urgent need for the government to build a long lasting, strategic and
interdependent relationship with the national oil companies. The country's demand
for crude oil has been constantly rising and far exceeds domestic production.

In their latest market research report, "Indian Oil & Gas Industry: An Industry
Analysis" RNCOS' experts showing concern on India's Oil & Gas policy, believe that
the time is ripe for the Indian government to develop a durable, strategic and
interdependent relationship with the national oil companies to find a platform in
the international competition.

The report provides an objective analysis of the Oil & Gas sector in India. It gives
detailed information on exploration, production, and other processes accompanied
with annual consumption figures and future growth prospects.

The report makes a comprehensive analysis of growth prospects and approaching
situation in the industry. It reveals the various oil and gas projects that have
been announced by Indian companies and the consequent investment that amounts to
over $30Bn by 2008.

The market research report, "Indian Oil & Gas Industry: An Industry Analysis" has
plenty of statistical data providing an all-comprehensive information. It would
serve a good reference material for market analysts, oil & gas project consultants,
financial institutional investors, oil & gas regulatory bodies, and strategic
committee with oil & gas companies.

About RNCOS:
RNCOS, incorporated in 2002, provides Market Research Reports for your business
needs and aims to put an end to your information pursuit. Our expertise in gathering
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consulting, and business consulting, brings reputed companies and firms to us for
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information and niche market analysis.

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