Energy Companies in India: Rising demand and deregulation was the reason that many of India’s energy companies were formed. India is now Asia’s third largest energy consumer. India and China have both been chasing oil and gas assets abroad to meet their fast growing demand for energy. Until recently, India’s oil and gas companies were state run but since the fall of the Soviet bloc, a major push has been underway to privatize this industry.
In 1990 nearly all energy sector operations were state controlled. The industry was inefficient and highly unreliable. But that is rapidly changing. For example, state-owned oil companies of India had over 80 percent of India’s exploration acreage before 1990. Thanks to reforms in the 1990’s, that number is down to about 50 percent in 2008 even as the area under exploration has increased roughly ten-fold. Competition and private capital has reinvigorated the entire energy industry in India. Many believe that privatizing India’s energy industry is the right plan for India’s energy future.
As India moves forward with energy-policy reforms three issues need particular attention. First, recent energy policies threaten the organizational stability of state-owned companies. Second, India urgently needs to ramp up energy related R&D, which at present is inadequate. Third, India must strive to really understand the functioning of the energy systems of other major economies.
The new identity of India’s energy policy is marked by a free-market oriented approach, and should provide the right economic signals leading to the emergence of an efficient energy system in India.
Some Indian firms use service contracts with overseas firms to fund their operations.
- Cairn Energy India
- Eri- Tech Limited
- Focus Energy India
- GE Energy India
- Goldwyn Limited
- Hydro One Inc
- India Indianelectricity.com
- India Karnataka Power Corporation Ltd.
- India National Thermal Power
- Oil & Natural Gas Corporation Ltd. (ONGC)
- Pennant Engineering
- RTDS Technologies Inc.
- Reliance Energy India
- S.S. Engineering Industries
- Shiv-Vani Universal Limited
- Shri Shakti Group
- Suzlon Energy India
- Synergy Renewable Energy Pvt. Ltd
- Unitron Energy Systems Pvt. Ltd.
- Zenith Birla India Limited
Last updated: December 12th, 2013
