2005 - Oil India Limited

OIL beyond territorial barriers
Editorial
Welcome once again to the second issue of "Synergy". Poised as we are at a very interesting and phenomenal stage of
our evolvement as a reckonable entity, both as a company and as an industry, it was with immense awe that we have
seen significant event after event unfold at a blistering pace since we last went into print.
A global "energy demand shock"compounded by extremely tight world oil supplies, constraints on world natural gas
production, and geopolitical turmoil is now putting even countries like United States at a "critical juncture" in its
energy position.
The solution to looming Energy problems and solutions being sought will undoubtedly involve intensifying
exploratory efforts, promoting international cooperation, maintaining a strong domestic industry, and more
realistically appraising energy reserves, environmental goals, technological potential and geopolitical limitations.
The world's consumption of oil is likely to increase over the next two decades by more than 40 percent. Population
and social change in India and China and in the Middle East are doing much to drive today's high oil prices. Economic
growth in India and China, as well as in the United States, is contributing to a demand shock on the oil market. What
looks like the best global economic growth in a generation is creating specific pressure on energy markets.
There have been enough reports and articles in the media on the move to restructure the Petroleum Sector in the
country to strengthen the industry, ensure Oil security, meet future challenges and also realize "Synergy in Energy".
Where do we see ourselves two years, five years and ten years from now? Where does our vision lead us? Are we
prepared and equipped for it? Are we 'keeping our powder dry' or will we allow events to overtake us as we grapple
with change.
In this issue we have covered articles from Mergers, Innovations, Management issues etc., for our readers. I convey my
sincere thanks to our CMD, Shri R K Dutta for his trust and guidance. I also like to thank Mrs Krishna Hazarika Rao for
her efforts in bringing out this volume. I would also like to thank all the Authors for their contribution in this issue.
I leave you to mull over with these thought provoking 'magic seeds' as we embark upon the next phase of our journey
in pursuit of our dreams while we shape our destiny. Till then "Happy Reading"!
With best wishes
Arvind Jaini
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