 "Networked Bharat")
This refers to “Sensex falls 642 pts, Nifty ends at 10,818 on oil crisis and global tension” (September 18). India’s demand for crude is assessed at 8.2 million bbl/d by 2040, while domestic production will remain relatively flat at around 1 million bbl/d. We depend on Middle East for 60-65 per cent and the rest from the West and Africa. Our supply distributions are across several countries, including Iran, Libya, Sudan, and Nigeria. The Saudi Arabia one is a new development and now uncertain geo-political trends would make us ever dependent on imports.
Foreign investment in exploration in India has waned
