India is growing fast and energy is central to achieving India's development ambitions. What happens in India will increasingly influence the global energy economy. Supporting an expanding economy, bringing electricity to those who remain without it, fueling the demand for greater mobility and developing the infrastructure to meet the needs of what is soon expected to be the world'ss most populous country.
India is the third largest importer of crude oil globally, and it is projected that its oil imports will rise above 90% by 2040, a whopping 7.2 million barrels per day, second only to China. Energy use in industry is the largest among the end use sectors and is buoyed by substantial growth in output of steel, cement, bricks and other building materials, and by the expansion of domestic manufacturing encouraged by the "Make in India" initiative. In the transport sector, adding more than 250 million passenger cars, 185 million two- and three-wheelers and 30 million trucks and vans to the vehicle stock by 2040 explains two-thirds of the rise in India's oil demand, mitigated only in part by new fuel-efficiency standards.
As India tries to bolster its energy security, Citax Energy wants to play a small but significant role. As the economy grows, it's demand for energy is on the rise. India is heavily dependent on imports and its rising thirst for oil and gas means that the country is stepping up its efforts to ensure a steady stream of fuel from abroad, while also looking at untapped opportunities for production at home. At Citax we are working towards securing the resources for expanding economies. Augmenting energy supplies is key in this endeavor to Citax's promise of Energizing Growth.
The Citax Management Team is led by seasoned experts from the Energy, Trading and Finance sectors. With a cumulative industry experience of more than a century, this crack team has set a track record of successfully managing businesses both in developed and emerging markets. Citax ventures has aggressive plans to invest in the energy sector and is currently evaluating investment opportunities in oil refining and trading assets in Asian region.
Citax - Energizing Growth
For further information, and to discuss potential investment opportunities, please contact us at info@citax.energy
