India Needs Greater Fuel Efficiency, Alternate Sources of Energy

Country's imported oil dependency to jump to 94% by 2030, says IEA

Published: 26-Jan-2004

Paris-based International Energy Agency today said India's import dependence to meet its crude oil requirement will jump to 94 per cent by 2030 from the current level of just under 70 per cent if fuel efficiency and alternative sources of energy were not encouraged.

"India's demand for crude oil will more than double to 6 million barrels per day in 2030, 94 per cent of which will have to be imported if major oil fields are not discovered and energy policy remains the same," IEA's deputy executive director Ambassador William Ramsay said at the India-IEA Joint Workshop on Emergency Oil Stock Issues here.

IEA, a body comprising developed countries, estimated that world oil demand will increase from 75 million barrels a day to 120 million barrels a day in 2030. China's oil demand will increase to 12 million barrels a day from the current 7 million barrels.

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