Long Term Strategy to meet Shortage of Petroleum Products

The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan informed the Rajya Sabha in a written reply today that the Government is aware of the expected shortage of petroleum products in the country and has taken a number of steps to enhance availability in consultation with experts. The following important steps, amongst others, have been taken by the Government to enhance domestic production and reduce dependence on imported fossil fuels: ·        New pricing guidelines for domestically produced natural gas approved to incentivize exploration and production of natural gas in the country.  ·        Project for re-assessment of hydrocarbon resources in all sedimentary basins of India taken up. ·        Appraisal of unappraised areas of all sedimentary basins of India taken up. ·        Policy on non-exclusive multi-client speculative survey for assessment of unexplored sedimentary basins adopted. ·        Improved Oil Recovery (IOR) / Enhanced Oil Recovery (EOR) implemented by Exploration and Production (E&P) companies for enhancing oil recovery from fields. ·        Policy for exploration and production of CBM and also shale oil & gas are being implemented. ·        Policy framework for early monetisation of hydrocarbon discoveries under PSC regime approved. ·        Policy for exploration in Mining Lease Areas approved. ·        Conservation measures to curtail waste of scarce energy adopted. ·        New and renewable energy applications being promoted.