Pradhan asks experts to cut fuel import dependency by 10%

Union Minister Dharmendra Pradhan asked geo-scientific community to reduce oil and gas import dependency by at least 10%, and ensure energy accessibility as well as affordability for entire spectrum of people to fulfill the vision of Prime Minister Narendra Modi.

While addressing a gathering at the 12th Biennial International Conference & Exposition of Society of Petroleum Geophysicists on 'Energy to Synergy' theme today, Pradhan said the country ranks third in energy consumption in the world and with the efforts of scientists exploration and production (E&P) industry was growing.

The Union minister for petroleum & natural gas said the sector is a priority of the government and the time was ripe for energy to synergy.

He made reference to various initiatives taken by the government to facilitate the ease of carrying out business in energy sector of India while ensuring that the revenue income also grows.

He said that revenue collection increased from 1 lakh crore to 2 lakh crore after he took over the charge in the ministry.

He emphasised on the importance of oil sector in India s energy ecosystem and its role in national economy.

Elaborating on the changing energy scenario, he mentioned the historic stages of development of the energy supply and its impact on industry.

Anil Kakodkar, Former Secretary, Department of Atomic Energy, said that we need to develop an ecosystem so that society and country progresses forward.

Decision making is important part of the industry and we should take knowledge based decision, he said.