Oil minister Dharmendra Pradhan on Wednesday said the increasing dependency on imported fuel should not be seen as a challenge to the energy security programme that the country is building on.
Pradhan said government has taken many initiatives to increase the capacities of alternative sources of energy like solar, wind, biogas, among others.
The country imports more than 82 per cent of its daily oil demand, making crude imports the biggest drain on the nation’s foreign exchange, as domestic production has either been stagnant or even declining for long but demand has been on a steady rise, clipping at 4-6 per cent per annum.
“The rise in oil imports and the dependency on the imported fuel are not going to be hurdles in our energy security programme. Read More
Latest posts by ET Energy World (see all)
- Coal India asks for a coal regulator - September 18, 2019
- Oil minister Pradhan meets Rosneft CEO, discusses buying Russian crude - September 18, 2019
- Fourth Partner Energy executes 10-MW solar plant project for Bharathi Cement - September 18, 2019