With Prime Minister Narendra Modi setting steep target of cutting reliance on imports, the petroleum ministry has intensified monitoring of oil and gas fields given to state-owned firms like ONGC.
Modi had in March 2015 called for cutting India’s dependence on imports to meet its oil needs by 10 per cent by 2022 from 77 per cent then.
Import dependence has since only risen to 81 per cent.
“Most of our production of oil and gas come from nomination fields with ONGC and Oil India. We have now started monitoring those fields and have given new benchmarks to the national oil companies to increase production,” Oil Minister Dharmendra Pradhan said at an industry event. Read More…
Credit By : ET Energy World
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