Financial Daily from THE HINDU group of publications
Wednesday, Mar 23, 2005
Financial Daily from THE HINDU group of publications Wednesday, Mar 23, 2005 |
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Industry & Economy
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Non-conventional Energy `Explore alternative energy options' Our Bureau
Mumbai, March 22 THE need for India to explore non-conventional energy options was discussed at length at the inaugural session of the three-day conference organised by the Bombay Chamber of Commerce in Mumbai on Monday. Oil industry officials felt that energy options such as hydrogen-based fuel, solar and wind energy, coal gasification and coal-bed methane should be explored to meet the galloping demand. Setting the tone for the discussion, Mr M.B. Lal, Chairman and Managing Director of HPCL, felt that crude oil prices would go up further in view of the rising demand and reduction in OPEC output. He pointed out that the spiralling oil prices would have a chain reaction like impacting gas prices. Mr N.G. Kannan, Managing Director of IBP Ltd, said though India was 31 per cent self reliant in the oil sector, the energy sector should be further developed. According to Mr A.N. Sinha, Managing Director of Essar Oil, India could make use of the available gas in the Krishna-Godavari basin instead of turning to Iran.
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