India aims to decrease hydrocarbon imports by 10% by 2022: Oil Minister Says

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Minister of State for Petroleum & Natural Gas Dharmendra Pradhan said that India is aiming to reduce its hydro carbon imports by 10 % by 2022 through growing domestic output, fuel efficiency and the use of alternative energy.

India currently imports 70 to 75% of its energy requirements, he said.  He spoke on the sidelines of a road show in Singapore for investors to explore oil and gas in India.

‘A good number of companies are using our data’ Pradhan said.  However he declined to name those who have shown interest. He also said there will no cess or duties assessed on new oil & gas exploration projects.

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