Oil & Gas City gas distribution (CGD) companies are expected to deliver robust volume growth in near term owing to favourable global macro scenario as well as the conducive regulatory policies in India. Their capex intensity is likely to remain high in the medium to near term. Benign LNG prices and focus on CNG market will enable GGL to sustain volumes and expand margins. For IGL, expansion of network in existing and new GAs will ensure volume growth of ~11-12% over FY21-23. OIL has guided for a flattish crude oil and gas production while ONGC expects ~6-7% YoY growth in the gas production over FY20-22E. ONGC also indicated that the proportion of high priced gas will jump by 10% to 14%. Chemicals Softer raw material prices and favourable market for Acetonitrile is enabling Alkyl Amines to maintain stronger margins. Recovery in the pharmaceutical and agrochemical sector (together comprise ~70% of sales mix) will result in volume growth of ~10-15% YoY in FY20. Slowdown in the auto industry will continue to impact the demand for rubber and rubber chemicals for the next few of quarters, at least. Wide applicability of Apcotex's products shielded the impact of slowdown to some degree but NOCIL will continue to witness sluggish demand. We hosted the Oil & Gas and Chemicals Investor Forum in Mumbai with 13 corporates/experts participating in the event.