Actually i was not thinking about logical scenario on ESG topic. I was thinking more on the lines of India is a forerunner of green energy initiatives. A state owned company using large capex on new oil exploration wouldn’t look good on the world stage, hence less capex. Whereas taking out oil from already explored fields is something more economical and might make sense for economic needs of government. Hence grabbing low hanging fruits. And yes demand for oil is going to go away but definitely not in the near future.
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