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India's overdrive to trim fuel output investments threatens supply security

Oil ministry's plans involve a rapid exit from fuels without considering implications, writes S Dinakar

Oil drums, Oil

A motorcyclist drives past empty stacked oil drums in Cochin, India, on Friday, May 29, 2015. Photographer: Dhiraj Singh/Bloomberg

S Dinakar
India’s energy supply security is threatened by New Delhi’s overdrive to slash new fossil fuel production facilities while lagging behind on electric vehicle (EV) proliferation. The move also seems out of sync with evolving realities of energy use in a post-pandemic, post Ukraine world.

UK Prime Minister Rishi Sunak recently announced that the government would grant at least 100 new North Sea oil and gas licences, a stark turnaround for a nation which was an early proponent of clean energy measures. His policy shift echoes the turnaround in the stance of European oil majors, which are veering away from lower-return

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First Published: Aug 24 2023 | 1:19 PM IST

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