Diversification must for oil security

Diversification must for oil security

Given its high dependence on imports, India remains vulnerable to volatility in the global crude oil market. The country has tried to spread its risks by diversifying sources of crude oil, but falling domestic production and heavy dependence on imports remain a worry.

1. Domestic production has declined

India’s major oilfields are well past their prime India’s Crude Output (Million Tonnes)

2. Rising consumption has raised imports

Share of imports in India’s total crude oil use Read More

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