India currently imports around 81 per cent of oil requirements and about 37 per cent of gas requirements. 60 per cent of India's fuel comes from the middle-east, 19 per cent from west-African countries, 15 per cent from Latin America and 2.5 from South East Asia.
While speaking at the Petrotech Event in New Delhi, Union Petroleum Minister Dharmendra Pradhan disclosed the blueprint of the petroleum ministry under the counsel of Prime Minister Narendra Modi. During his speech at the event, Pradhan suggested that the movement towards an increase in use of clean fuel all over the country has been strengthened. During his speech he said that, “India has emerged as a new engine of global growth. In today’s unsettled global economic scenario, India stands among the emerging economies and with its consistent growth trajectory, India surely is an adequate supplier of energy at an affordable price.”
“The story of our oil and gas sector is a story of interdependence. India’s total energy requirement is about 700 million tons of oil equivalents and the share of oil and gas is about 35 per cent,” Pradhan said.
India has a robust redefining oil & gas sector with a capacity of about 230 million tons per annum to meet the domestic future requirements, said the Union Petroleum Minister. India currently imports around 81 per cent of oil requirements and about 37 per cent of gas requirements. 60 per cent of India’s fuel comes from the middle-east, 19 per cent from west-African countries, 15 per cent from Latin America and 2.5 from South East Asia.
The Petrotech series of International Oil & Gas Conference and Exhibition is a bi-yearly forum that connects national and international experts of the oil & gas industry to exchange views and share knowledge, expertise and experiences. Into its 12th edition of the flagship event, the summit is one stop-destination to explore the growth opportunity in petroleum technology, exploration, drilling, production and processing and many more.