Energy, Geopolitics & The Future Of Oil: Indian Oil Chairman Speaks At Davos 2026

At the World Economic Forum in Davos 2026, Siddharth Zarabi, Group Editor, Business Today, speaks to Arvinder Singh Sahney, Chairman of Indian Oil, on the evolving global energy landscape, geopolitics, and India’s long-term energy security strategy. With energy dominating conversations at this year’s record-attendance Davos, Sahney explains why fossil fuels cannot be switched off overnight, why peak oil consumption for India is still over a decade away, and how the country’s rapidly growing economy will drive a sharp rise in overall energy demand. The conversation explores India’s dependence on crude oil imports, the $130 billion annual oil bill, the role of bio-energy, renewables, green hydrogen and cleaner fuels, and why investment in exploration remains critical even as the world transitions to cleaner energy. Sahney also shares insights on crude oil pricing, global supply dynamics, refining capabilities, and how Indian refiners are uniquely positioned to process a wide range of crude grades. This in-depth Davos 2026 discussion offers a realistic assessment of energy transition timelines, the balance between growth and sustainability, and what lies ahead for India in a geopolitically uncertain world.