India finds ways to tap new sources of energy

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<h1>India finds ways to tap new sources of energy</h1><strong> Author: <a href='http://www.articleseen.com/profile_Rao Praveen.aspx'>Rao Praveen</a></strong><br /><p>When crude oil sneezes in the international market, the resident Indians catch cold. Not just policy makers and industrialists, it affects all the layers of society. The fear is understandable. The projected growth plans could go haywire; if the price of crude oil continues to spiral up. The reasons are simple. Indian economy’s dependency on imports is high. Almost 70 per cent of the country’s crude oil demand is supplied by imports. The energy consultants opine that this share is unlikely to come down, as the supply from the domestic market is stagnating for a while. According to the government of India’s 11th Plan document on petroleum and natural gas sector, “The share of hydrocarbons in the commercial energy is about 45 per cent, out of which the share of oil is 36 per cent and that of natural gas is around nine per cent.” The government is aware that ensuring energy security is vital for the country’s growth and development. It spends around Rs. 350 crore per annum on R&D in the hydrocarbon sector. To discover new sources of energy, the government under six rounds of New Exploration Licensing Policy awarded 162 blocks. During 10th Plan period, 39 discoveries have been made. Besides, 26 blocks have been allotted for tapping Coal Bed Methane gas. Energy consultants hold the view that about six TCF of gas reserves have been established so far. The other strategies adopted were enhancing indigenous production of crude oil. It includes implementation of a number of improved oil recovery and enhanced oil recovery schemes. Public sector oil companies were encouraged to acquire exploration and production assets overseas. OVL’s performance was commendable. It acquired 22.24 million tonnes of oil and oil equivalent of gas from its overseas activities, though the target was 10.14 millions. Importance is also given to storage. At three locations, plans are afoot to create storage of five million tonnes of strategic crude oil. The energy efficiency consultants have also played their role in raising efficiency at every level. There has been development in other fronts as well. Energy consultants point that the refining capacity at the start of the tenth plan was 118.37 MMTPA, which went up to 148.97 MMTPA by the end of the Plan period. The gates were also opened to the private enterprise to foster competition. The private sector was allowed to market transportation fuels, such as motor spirit, high speed diesel and ATF. Unfortunately, the phenomenal rise of crude oil in the international market led to government’s intervention, which diluted the competition in the domestic market. The energy efficiency consultants have helped in devising a number of processes, which have reduced energy consumption in various refineries. The organizations, such as Petroleum Conservation & Research Association have initiated a number of programmes on conservation of petroleum products in transport, industry, agriculture and household sectors. The improvements in efficiency from these initiatives are understandable, yet they are to be quantified.</p><strong>About the Author:</strong><br />Infraline Energy Research and Information Services is a company driven by <a rel="nofollow" href="http://www.infraline.com/">energy consultants</a>. It caters to the critical business information needs of a wide array of companies, which are interested to do business in India’s power and energy sector. It offers subscription based information services comprising <a rel="nofollow" href="http://www.infraline.com/powers/">power sector analysis</a>, customized research services, reports and publications, conferences and works<p> Article Source: <a href='http://www.articleseen.com/Article_India-finds-ways-to-tap-new-sources-of-energy_59367.aspx'> http://www.articleseen.com/Article_India finds ways to tap new sources of energy_59367.aspx</a></p>

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