BP looks to boost India presence after board meet
"They (BP board) know what we have done in India, the success we have had is what brings them here. Because they recognize the ability to create much more in India," said Sashi Mukundan, outgoing India head of BP group. "For me, it was very important that we needed to showcase India for them. And I can tell you all 12 of them have gone back saying, 'Oh, my God! What an experience'."
BP has a century-long presence in India, having invested more than USD 12 billion across the energy value chain including oil and gas exploration and production, downstream fuel retailing and mobility solutions and renewables.
The main reason for bringing the board to India was to showcase the opportunities the world's third-biggest oil importer and consuming nation presents.
"That was the main reason for bringing them to India. Because, you know, now
Dube has held senior roles in finance, commercial, and business transformation in India, Singapore, and the UK. Most recently, he served as Vice President for Group Investor Relations at BP's London headquarters, driving investor engagement. His previous experience includes setting up joint ventures with Reliance in India and serving as CFO of Jio-BP, BP's mobility joint venture with Reliance.
"It is a privilege for me to accept this position," said Dube. "India is a crucial part of BP's strategy as we pivot to being an integrated energy company. We aim to support India's aspiration for energy independence by and build on the legacy created by Sashi Mukundan and the BP India team."
Mukundan's leadership strengthened BP's presence in India, aided by partnerships with the government, the public sector, business partners, and local communities. Reflecting on his
Out of reach: $1 trillion of gas is stranded by regulatory uncertainty in India
BP Group of Companies in India regional president and head of country Sashi Mukundan speaks to TOGY about the potential of India’s upstream sector for international oil companies if regulation and policy are aligned. BP Group of Companies in India remains one of the largest international energy companies in the Indian market and employs more than 8, people.
What can India’s upstream sector offer to international oil companies?
India’s growth aspirations are inextricably linked to the availability of energy. To meet the energy needs of billion people is a tremendous challenge. With total energy imports accounting for 40 percent of the total supply, India’s net energy import bill puts an enormous amount of pressure on the economy. Reducing the country’s dependence on imports and growing domestic energy production will be a key parameter in the new government’s success.
India’s energy consumption is rising faster than any other nation’s. India needs to choose its options and align its energy mix wisely. It has options in coal, oil, gas, renewables and nuclear energy. Oil and gas will ne
BP plans to invest $2 billion in India upstream ventures over next few years&#;
Mumbai: BP India plans to invest more than $2 billion in its upstream ventures in the Indian market over the next few years, said Sashi Mukundan, BP Group’s regional president and head of India.
Over the next decade, Mukundan said, he expects 10% of BP’s global earnings to come from India as the British oil and gas firm bets on the country’s growing energy demand and plans to invest in cutting-edge renewable and alternate energy technologies.
In FY, BP posted total earnings of $ billion, more than double of what it reported in
In the past seven years, BP has invested more than $8 billion in India, with over $7 billion invested in exploration and production.
With its partner Reliance Industries (RIL), BP also plans to produce 10% of India’s total gas demand by The company partners RIL in four hydrocarbon blocks in the country which include—KG D6, R-Series, D55 and NEC 25, in the Mahanadi basin.
“By , we will have all three projects (KG D6, R-Series, D55 ) up and running and we should get to our peak production by with around million metric standard cubic metres per day (mmscm
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