Examine the competitiveness of INDIA in OIL and Gas industry sector using Porter's Diamond Model.
Please provide detail answer.
Porter's Diamond theory of competitive advantage explains the competitive advantage that nation's possess as a result of certain factors that they have and explain how government can help to improve the country's position in the world.Porter's five forces framework is very useful to analyse the opportunities and threats of oil and gas industry in India.The five important factors are competitive rivalry,threat of new entrants,threat of substitutes,bargaining power of buyers and bargaining power of suppliers.
Competitive rivalry-There are three different types of competitors in the upstream sector of the industry .The big IOC'S (Integrated oil and gas company),private oil and gas companies.and the National oil companies.
Threat of new entrants-The factors that effect the new companies to enter oil and gas business are large amount of capital needed,the oil and gas business are controlled by National oil companies,rise in internal competition in the industry,the big IOC's which enjoy economies of scale can compete with new entrants,oil and gas price fluctuations,war zones are generally the places where the oil and gas reserves are located, national and international laws which restrict entry.
Threat of substitutes-The substitutes of oil and gas are nuclear energy , coal, biofuels ,hydrogen which can be used for heating, generation of electricity, transportation etc..Due to the presence of such substitutes a large amount of money need to be spent on R&D so that such alternative sources of energy cannot dominate the market.
Bargaining power of buyers-the buyers are refineries, national oil companies, international oil and gas companies, traders etc.Buyers are interested in price and quality of the product and their bargaining power is small.
Bargaining power of suppliers-Big suppliers are International and National Gas companies like Chevron, Gazprom etc.These companies can influence price and their gargaining power is greater than the buyers.
Examine the competitiveness of INDIA in OIL and Gas industry sector using Porter's Diamond Model. Please provide det...
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