GoI measures to boost oil & natural gas production
The Dollar Business Bureau India’s crude oil import dependence based on the domestic consumption of petroleum products was 78.4% during 2014-15. This was informed by the Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan, in a written reply to the Rajya Sabha on Wednesday, as he also mentioned a need to cut crude oil imports. The Minister further informed that the dependence on crude oil imports is the result of an inter-play of several factors like success in new production of crude oil, successful acquisition of assets or equity oil abroad, success in conservation efforts, among others. He further informed that the production of the state-run oil companies remained stagnant over the last few years. While the production of ...
