By Rajesh Kumar | India | Sep 17, 2018 05:17:54With oil production declining in the last 10 years, the Indian marine industry is desperately searching for a new supply.
This is particularly the case in the Gulf of Aden where the oil market has been largely frozen since 2014.
The Indian Ocean is home to about 400 million people and the vast majority of them rely on marine oil for their livelihoods.
Marine oil is used in a variety of industries, from ships to aircraft to power generation, according to the Petroleum Corporation of India (PCI).
The company has been using oil from the Gulf since 1972.
The petroleum industry is the world’s largest producer of oil.
It generates more than half of the world oil supply.
The industry is heavily dependent on oil exports for fuel and other necessities.
But the decline of oil prices has left it vulnerable to a slump in demand and the government has stepped in to help the industry recover.
In 2016, the government launched a three-pronged policy to encourage domestic and international demand for marine oil.
Its the first time that an Indian government has actively supported the sector.
The government is now encouraging marine companies to import their oil for export and also investing in oil tankers to bring the market back to life.
However, despite the government’s efforts, marine oil is still facing some challenges.
In addition to a glut of supplies, the Gulf has been prone to large-scale oil spills.
The biggest of these occurred in 2010, when an oil tanker, carrying oil from Saudi Arabia, capsized off the coast of Yemen.
The spill resulted in an estimated $60 billion in damage.
According to the World Bank, there were a total of 16 oil tanker accidents in the world in 2016.
These incidents were responsible for a whopping 1.2 million deaths and 3.8 million injuries.