India s oil& gas demand will grow at a robust 40% rate in the next decade, the Prime Minister Manmohan Singh said today.
India consumed over 138 million tonnes of fuel in 2009-10, while it imports three-fourth of its oil needs and one-third of its gas requirement. The country imported USD 79.5 billion worth of 159.2 million tonnes of crude oil during the year.
Demand over the next 10 years will increase by over 40%, whereas the increase in supply from the maturing (domestic) oilfields is expected to be around 12%, said the Prime Minister at the 9th International Oil and Gas Conference and Exhibition, Petrotech 2010 here today.
Singh stressed on securing energy supplies at affordable prices to meet requirement of rapidly expanding economy.
India needs adequate supplies of energy at affordable prices to meet the demand of its rapidly growing economy, he added.
India consumed over 138 million tonnes of fuel in 2009-10, while it imports three-fourth of its oil needs and one-third of its gas requirement. The country imported USD 79.5 billion worth of 159.2 million tonnes of crude oil during the year.
Demand over the next 10 years will increase by over 40%, whereas the increase in supply from the maturing (domestic) oilfields is expected to be around 12%, said the Prime Minister at the 9th International Oil and Gas Conference and Exhibition, Petrotech 2010 here today.
Singh stressed on securing energy supplies at affordable prices to meet requirement of rapidly expanding economy.
India needs adequate supplies of energy at affordable prices to meet the demand of its rapidly growing economy, he added.
