India: Hydrocarbon Vision 2025

Focuses on long-term energy security. Aims to assure energy security by achieving self-reliance through increased indigenous production and investment in equity oil abroad. The main thrust of the action agenda would be intensification of exploration efforts and achievement of 100% coverage of unexplored basins in a time bound manner to enhance domestic availability of oil and gas, pursue natural gas projects and facilitate availability of LNG, develop hydrocarbon sector as a globally competitive industry, maintain adequate levels of self sufficiency in refining (90% of consumption of middle distillates), establish adequate strategic storage of crude and petroleum products in different locations. Liberalize hydrocarbon market, create a policy framework for cleaner fuels, have a rational tariff and pricing policy, announce a long-term fiscal policy to attract required investments in hydrocarbon sector.

Date Implemented: 2000

References: Petrodril

http://www.petrodril.com/hydrocarbon.htm