Fuelling new partnerships
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India, Oct. 19 -- Despite loud talk by successive Governments about increasing domestic production of oil and gas to make India self-sufficient in energy, we are producing less than 20 per cent of our requirement. The balance, over 80 per cent, continues to be imported. This heightens our vulnerability to a point whereby the slightest disruption in any of the major sources of imports (be it imposition of sanctions by the US against Iran or an attack on oil installations in Saudi Arabia ) creates major ripples that have the potential to destabilise the country's economy.
The problem is not lack of resources. India has 26 Sedimentary Basins (SBs) covering an area of 3.14 million square kilometres (sq km). But, the lack of a conducive polic...
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