The Hindu Business Line : Need to add more hydrocarbon reserves: Deora

New Delhi, Sept. 17 The Petroleum and Natural Gas Minister, Mr Murli Deora, emphasised the need for adding more hydrocarbon reserves and for stepping up the efficiency in production especially in the light of country’s heavy import dependence for crude oil which stands at more than 70 per cent of domestic requirement.

Inaugurating the Geo India 2008 Conference & Exhibition of Geologists and Geophysicists, at Greater Noida, near Delhi on Wednesday, he pointed out that hydrocarbons account for about 45 per cent of India’s total energy requirement.

Referring to the scope for increasing domestic production, Mr Deora said that about 75 per cent of the total estimated hydrocarbon resources of about 32 billion tonnes of oil and oil equivalent gas still remains to be explored in Indian business.

He also stressed upon the need for utilising alternative sources of energy and called for improving oil recovery factor from existing fields. The Minister urged the public and the scientific community to come forward with innovative ideas and suggestions so that hydrocarbon fuels are used more efficiently and effectively.

Mr Deora added that the Government has ensured supply of kerosene to the vulnerable section at a much cheaper rate of Rs 9 a litre which is even lower than the cost of a mineral water bottle. Similarly, LPG and HSD used as domestic and transportation fuels are also sold at substantially lower prices.

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