‘Sharp fall in price a challenge for oil firms’

Energy Bureau
Posted: Thursday, Nov 27, 2008 at 0325 hrs IST
Updated: Thursday, Nov 27, 2008 at 0325 hrs IST

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Fuel prices to be rolled back if crude dips: Deora No oil price hike immediately, says Deora

New Delhi: still remained to be exploited that would be enough to support world demand for 3-4 decades. Another trillion barrel reserves, he said, are trapped in non-conventional sources such as oil shells and tar sands. “But accessibility is an issue as most of the reserves are in hostile and remote physical environments. Affordability is (also) an issue,” he added.

Crude at even $60 per barrel is unaffordable to many nations. “One time (oil-cartel) OPEC had talked of maintaining crude oil price in a band of $ 25-30 a barrel. This would be necessary (for) economic prosperity," he added. Ambani stressed on proactive approach to efficient use of energy.

And one of the ways for efficient use of energy was building nuclear power plants, he said. “While we debated, other nations created nuclear plants."...

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‘Sharp fall in price a challenge for oil firms’

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