News Karnataka
Friday, February 07 2025
Mangaluru

Oil imports to be cut by 50% in next 7 yrs: Moily

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NewsKarnataka-Mangalore

Mangalore: “The nations oil import is expected to be reduced by 50 percent in 2020 and there were plans to completely stop the import of oil by 2030”, informed the Union Minister for Petroleum and Natural Gas M Veerappa Moily on Sunday December 8, during a press meet at circuit house.

Addressing the reporters, Moily said, “Import is done on a larger scale at present, the country at present produces 219 MMT of oil and that there is a target of taking this to 260 MMT by 2015.”

“China stands first in oil production in the world. India too has to try to increase oil production. Oil conservation efforts are made  sincerely at present and the Ministry  has even formed a committee led by Vijay Kelkar to look into the matter,” Moily informed.

 

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