Roadmap set for reducing crude oil imports by 10 % by 2022

Last Updated: Thursday, 3 December 2020 (10:44 IST)
New Delhi:The government has set a for reducing India's imports by 10 percent by and is in the process of developing new strategies and is enhancing indigenous oil and gas production to achieve this target, Petroleum Minister Dharmendra Pradhan said.
 

Speaking at Swarajya Webiner Event on Aatmanirbhar Bharat he said India is all for a reasonable and responsive pricing of crude. The days of monopoly are over and producers should take into account the consumers' viewpoint also, he said. 
 
He said that besides achieving the renewable energy target of 450 gigawatts by 2030, India will focus on developing in an integrated manner a gas-based economy, cleaner use of fossil fuels, greater reliance on domestic fuels to drive bio-fuels, increasing the contribution of electricity, moving into emerging fuels, like hydrogen and promoting digital innovation across all energy systems. 
 
India is currently using 6 percent of the world's primary energy and the per capita consumption of energy is still one-third of the global average. But this is rapidly changing and India will drive the growth in global energy demand as its energy consumption is projected to grow at 3 percent per annum up to 2040, faster than all major economies of the world,
  India's share of total global primary energy demand is set to roughly double to about 11 percent by 2040 driven by strong economic development.
 
The Minister said Prime Minister Narendra Modi had envisioned a clear roadmap for India's energy justice based on five key enablers including energy availability and accessibility to all, energy affordability to the poorest of the poor, energy efficiency, energy sustainability and energy security. The Prime Minister had also highlighted seven key drivers of India's energy strategy going forward.  ''Our energy agenda is inclusive, market-based and climate-sensitive. We have adopted multiple pathways for energy transition."(UNI)