India’s ONGC bets billions on deepwater oil and gas exploration

April 28, 2023/in /by Rudolf Huber

Sure they do that. I would do that too. The shale revolution in the US has shown the world the potency of having inexpensive domestic energy. And COVID plus the Ukraine war have shown us that depending on international supply chains is deadly for a major economy. Besides, drilling at home also means jobs at home so the money spent is invested in one’s own economy. And one needs the energy if economic growth is to be an issue. China imports almost anything it needs to survive – thats its Achilles heel.

India's ONGC bets billions on deepwater oil and gas exploration

State-owned Oil and Natural Gas Corp. (ONGC) is set to increase spending on deepwater and ultra-deepwater exploration in India, aiming to reduce the country's dependence on imported oil and gas. Learn more about ONGC's plans…

worldoil.com

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