KOCHI: India as a country should strive for a reasonable petroleum pricing which would incentivise both consumers and investors, said B Ashok, MD, Ratnagiri Refinery & Petrochemicals. He was delivering the inaugural lecture at the 38th Annual National Management Convention 2019 organised by Kerala Management Association on Thursday.
“Low oil prices mean low investments, especially in the high-risk upstream sector. Under investment in the industry due to low prices has consequential long-term supply impact, while high prices impact demand and can potentially lead to deceleration of economic activities,” said Ashok. He said India economic growth of 7-8 per cent can be limited without energy security.
Critical challenges before the nation with respect to attaining energy security are growing energy bills, addressing energy security with affordability, tackling local & environmental issues. A unique model focussing on multiple sources of energy generation and different sources of mobility and improving energy efficiency was highlighted as the way forward to meet the country’s energy needs.
The two-day KMA convention will see talks on ‘Learnings for Going Global’, ‘Moving Indians Into the Global Scenario’, India as Part of the World Order’ and ‘Indian Start Up to Global Stand Up’.