Elon Musk says the world still needs oil. “Realistically I think we need to use oil and gas in the short term, because otherwise civilization will crumble," Musk said on the sidelines of an energy conference in the southern city of Stavanger.
In my view India will need another 10-20 years after the world transition to clean energy as the technology has to be affordable for India to adopt it fully. Many ideas can be executed on that theme as the stocks are severely battered in Oil & Gas sector. Unfortunately there is not much direct play on this space in private sector. I am averse to PSU companies so ONGC, OIL, GAIL, Coal India etc are out of investing universe for me.
But there is a drilling company named Jindal drilling which can be looked at. A small oil exploration company Selan Exploration which underwent management change recently can be looked at as well.
Adding > 10% of model portfolio to Selan exploration and ~ 3% to Jindal Drilling.