Rapidly impacted by global oil prices, India is taking steps to boost its oil and gas production while ramping up energy transmission to cut emissions.
see photosIndia is taking steps to boost its oil and gas production.
Oil and gas will continue to meet India’s ‘baseload’ energy demand in the “near future”, even as the world’s third-largest crude importer takes steps to move to cleaner sources to cut emissions, Oil Minister Hardeep Singh Puri said. said on Friday. India has set a target of achieving net-zero carbon emissions by 2070.
“As our economy grows to $5 trillion by 2025 and $10 trillion by 2030, our growing energy needs will take shape and, in turn, the global energy market will adapt to India’s needs,” Puri said at the World Energy Policy Summit. will take shape.”
India imports about 85 percent of its total crude oil needs, but this per capita energy consumption is just a third of the global average.
Rapidly impacted by global oil prices, India is taking steps to boost its oil and gas production while ramping up energy transmission to cut emissions.
However, Puri said, “Oil and gas will continue to meet baseload energy demand for the foreseeable future.”
India’s top oil explorer Oil and Natural Gas Corp is looking at partnerships with global companies to boost oil and gas production, its chairman Alka Mittal said at an online event.
ExxonMobil Gas (India) chief executive Monte Dobson said his company will help ONGC increase oil, gas production from ONGC’s difficult and challenging fields in India’s east and west coasts.
India Oil Corp, the country’s top refiner, is expanding into low-carbon businesses by expanding its gas sales business and building infrastructure to help boost the role of electric vehicles in India’s transportation fleet.
Its president SM Vaidya said, “IOC is using the surplus hydrogen capacity available at its refineries as a potential source of boosting fuel cell mobility.”
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