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Shri Deora inaugurates Society of Petroleum Geophysicists Conference
16 Jan '08
3 min read
He also said that apart from intensifying exploratory efforts for oil and gas in the Indian sedimentary basins and abroad, steps are being taken to harness other alternate sources of energy like Coal Bed Methane, Gas Hyderates, Coal Liquefaction, Ethanol and bio-diesel, etc.
Stating that first CBM gas production from Raniganj CBM block in West Bengal has started in July 2007, Shri Deora called upon global scientific community to spare no effort to find solutions which should be environment-sensitive and socially acceptable.
“We should not forget the fact that the environment we are enjoying belongs to future generations and we are merely custodians of these environs”, he said.
The Minister informed that the Government has taken in-principle decision to construct 15 Million Metric Tonne(MMT) to strategic storage in phases, with 5 MMT storage at Visakhapatnam, Mangalore and Padur being built during the first phase.
Shri Deora further said that Indian companies have planned capacity addition of 86 MMTPA refining capacity during the Eleventh Plan period (2007-12).
Most of this capacity addition would be for export markets. Thus, the refining capacity at the end of the Eleventh Plan in March 2012 is anticipated at 235 MMTPA against present 148.97 MMTPA.
India is currently the world's fifth largest consumer of energy accounting for 3.9% of World's annual energy consumption.
USA, China, Russian federation andJapan are the top four energy consumers. India's import dependence on crude oil and petroleum products is more than 70%.
In 2006-07, consumption of petroleum products was about 120 million metric tones (MMT), which is about 5.9% higher than the previous year's consumption of 113 MMT.
SPG Conference on the theme of “Energy Security: Exploration, Exploitation & Economics”, is being attended by eminent geoscientists, technologists and professionals from upstream oil industry from India and abroad.
Stating that first CBM gas production from Raniganj CBM block in West Bengal has started in July 2007, Shri Deora called upon global scientific community to spare no effort to find solutions which should be environment-sensitive and socially acceptable.
“We should not forget the fact that the environment we are enjoying belongs to future generations and we are merely custodians of these environs”, he said.
The Minister informed that the Government has taken in-principle decision to construct 15 Million Metric Tonne(MMT) to strategic storage in phases, with 5 MMT storage at Visakhapatnam, Mangalore and Padur being built during the first phase.
Shri Deora further said that Indian companies have planned capacity addition of 86 MMTPA refining capacity during the Eleventh Plan period (2007-12).
Most of this capacity addition would be for export markets. Thus, the refining capacity at the end of the Eleventh Plan in March 2012 is anticipated at 235 MMTPA against present 148.97 MMTPA.
India is currently the world's fifth largest consumer of energy accounting for 3.9% of World's annual energy consumption.
USA, China, Russian federation andJapan are the top four energy consumers. India's import dependence on crude oil and petroleum products is more than 70%.
In 2006-07, consumption of petroleum products was about 120 million metric tones (MMT), which is about 5.9% higher than the previous year's consumption of 113 MMT.
SPG Conference on the theme of “Energy Security: Exploration, Exploitation & Economics”, is being attended by eminent geoscientists, technologists and professionals from upstream oil industry from India and abroad.
Press Information Bureau Government of India
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