India has to focus on alternate energy to reduce dependence on imports: Sashi Mukundan, BP country head

Published on : February 12, 2019 Topic : Import
whatsapp           

New Delhi: British oil and gas firm BP is betting big on India's growing energy demand. It's country head Sashi Mukundan told Times Now that if India plans to reduce dependence on imports then it will have to focus on alternate energy. On BP's projects in India, Sashi Mukundan said the company is on track to meet the target and will start delivering gas from its projects from the middle of next year. About 80 per cent of India’s oil demand is met by imports and last year volatility in crude oil prices led to skyrocketing of petrol and diesel prices in India.

Meanwhile, Prime Minister Narendra in his inaugural address made a strong case for responsible pricing of crude oil that balances interests of both producers and consumers, saying people must have universal assess to clean, affordable and equitable supply of energy. “We need to move to responsible pricing, which balances the interests of both the producer and consumer. We also need to move towards transparent and flexible markets for both oil and gas. Only then can we serve the energy needs of humanity in an optimal manner," said Prime Minister Narendra Modi.

 

Source: Times Now
Know Our Products to Grow Your Business
Get India Import Data to Track Your Competitor Shipments
Subscribe to Receive our Daily Newsletter and Keep up-to-date with Latest Global Trade News.
Ask for Sample Data and Demo