Indian Prime Minister Narendra Modi’s government is pushing ahead with several key reforms for the oil and gas sector aimed at reducing the nation’s dependence on crude imports by 10% during the next six years.
The country’s crude consumption last year increased by 8.1% to 4.15 million barrels per day, making it the world’s third-largest oil consumer, surpassing Japan.
However, domestic crude production has been unable to keep pace with this rising demand, leading to increased imports that are now almost 80% of domestic production.
The
