Oil in dangerous waters

Data for the financial year 2020-21 revealed that domestic oil production fell again by 5% to 30.5 mn tonnes. This is the lowest in this century

The past month has brought continuous bad news for India’s oil producers and consumers. The disaster at ONGC’s Western Offshore was one of the worst tragedies in the history of India’s oil industry. In the annals of the global offshore oil industry disasters, this will probably rank as the fifth deadliest in terms of human loss; and the worst in this century. Only the bravery and skill of the Indian Navy’s rescue act prevented it from being the worst of all time. The last major storm disaster for offshore oil was in 1989 when the Seacrest rig sank during a