India may produce 25% of its crude oil demand by 2030, says Hardeep Puri

Union Petroleum and Urban Affairs Minister Hardeep S Puri said that India will be able to produce 25 per cent of its crude oil demand by 2030.

Puri said that the Indian petroleum industry is at the cusp of opportunity. It will be able to produce 25 per cent of its crude oil demand by 2030, reported media agencies.

It is to be mentioned that at present, as much as 5 million barrels of petroleum are being consumed in our country every day. Moreover, the count is increasing by three per cent, which is higher than the global average of around one per cent.

The Minister also said that the ethanol-blend percentage in petrol has increased from 0.67 per cent in 2013 to 10 per cent in May 2022, which is 5 months before the scheduled period.

Reportedly, it is reducing 2.7 million tonnes of Carbon Dioxide emissions which is good for the environment.

According to the International Energy Agency (IEA) estimates, India will contribute a quarter, which is 25 per cent of the growth in global energy consumption in the coming two decades.

Reports also say that India’s energy demand will double, while natural gas demand is expected to grow five-fold by 2050.

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