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ASIAN MARITIME & PETROLEUM SERVICE TRADING CO.,LTD

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Tel: 08 3820 5367 - 3820 5443

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India: Government Hopes for Major Import Cuts (15/11/2012)

The union Minister for Petroleum and Natural Gas, M Veerappa Moily (pictured), has said that the government may aim to cut oil imports in half by 2017 in order to reduce the country’s dependence on products from importing nations. Moily made the comments while speaking to reporters at an event orgainsed for the release of one of his novels. He pointed out that 80% of India’s oil and liquefied petroleum gas is derived from overseas imports.

“We cannot throw up our arms in despair over the non-availability of oil and keep importing oil at this rate and prices,” Moily stressed. “We have over four billion tonnes of coal which has been harnessed for firing the growth engines by using the latest environmentally friendly technology. We have to achieve self-sufficiency in industry by using our own fuel sources.”

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