Market analysis for handling alternate fuels; HPCL

Abstract

In today's world businesses are all about having competit ive advantage, risk mitigation strategies and sustainability. Different sectors have different kind of risks and covid came as an opportunity to rethink about the existing views on the problems that might arise when supply chains are disrupted as well as more focus on sustainable model. Indian Oil and gas industry has been functioning traditionally since a long time but there are many factors that led to the big layers in the sector to think about alternate strategies. Heavily dependent on other businesses as consumers of energy source and domestic demand for transportation majorly is facing somewhere a stagnation bottom lines as the customers are moving towards more sustainable energy sources. To find out various possibilities, an in-depth research using secondary resources was done. Petrochemicals, electric vehicles and biofuels are some of the diversification strategies that the industry can think about in the near future to diversify risk and go towards a more sustainable model.