1 month ago
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G. Kumar Naik, Raichur MP, has expressed interest implicit India’s increasing dependence connected crude lipid imports, stating that declining home accumulation and rising import reliance could exposure the state to planetary uncertainties.
Citing information provided by the Union Ministry of Petroleum and Natural Gas successful Parliament successful effect to his question successful Lok Sabha, Mr. Naik said home crude lipid accumulation has steadily declined implicit the past decade, dropping from 36.9 cardinal metric tonnes successful 2015-16 to 28.7 cardinal metric tonnes successful 2024-25.
“At the aforesaid time, India’s import dependence has accrued sharply from 80.6% to 88.2%, indicating a increasing reliance connected outer sources to conscionable our vigor needs,” helium said.
In a statement, Mr. Naik noted that the inclination assumes value amid evolving geopolitical developments and volatility successful planetary lipid markets. “This expanding dependence is peculiarly concerning successful the discourse of planetary uncertainties, including tensions successful West Asia and changing planetary lipid commercialized dynamics,” helium said.
Pointing to authorities claims of highlighting the diversification of import sources crossed 41 countries and the awarding of 172 lipid and state blocks nether the Open Acreage Licensing Policy (OALP), helium noted that the information suggested that accrued exploration enactment has yet to construe into higher home production.
Mr. Naik besides underscored a diminution successful the fig of operational lipid rigs implicit the years, indicating constricted enlargement successful upstream exploration capacity. “Despite argumentation initiatives, the expected boost successful home output is yet to beryllium realised,” helium observed.
Drawing attraction to procurement patterns, helium said the stock of spot purchases of crude lipid has accrued importantly successful caller years, exposing the state to terms volatility and proviso uncertainties successful planetary markets.
Referring to India’s vigor modulation goals, Mr. Naik said the expanding stock of renewable vigor capableness is simply a affirmative improvement but cautioned that its publication to existent powerfulness procreation remains limited. “Achieving the semipermanent people of sourcing a bulk of energy from non-fossil fuels by 2047 volition necessitate important investments successful grid modernisation, retention technologies and businesslike vigor systems,” helium said.
He emphasised the request for a balanced and forward-looking vigor strategy that strengthens home accumulation portion accelerating the modulation towards sustainable vigor sources.
