India looks to reduce crude imports by boosting domestic production.

摘要

Indian Prime Minister Narendra Modi has unveiled a five-point plan designed at improving his country's energy security by reducing crude imports 10 by 2021-22 from current levels of 197.5MM mt (4.33MM b/d). The five-point plan includes increasing domestic oil and gas production, boosting energy efficiency, promoting alternative fuels and renewables, demand substitution, and upgrading the country's refining sector. According to the Prime Minister Modi, "We need to increase our domestic oil and gas production and reduce import dependence. I have set a target to reduce import dependence by 10 by fiscal 2022, This will have to be achieved during a period of increasing oil consumption." The IEA expects Indian crude demand to rise by 280K b/d this year after averaging 4.3MM b/d in 2016.