In 2015, India imported 76 percent of its crude oil needs from various locations around the world. After analysing global shifts, the government of India is now looking to increase this to 90 percent by 2030.
In an effort to meet these future targets, India is eyeing Africa as the primary source for fulfilling the country’s future hydrocarbon needs.
According to several industry leaders, India will aim to grow the African hydrocarbon sector through offering expertise in oil exploration, consultancy, training and providing infrastructure development. This decision to diversify will also effectively assist India with becoming less reliant on West Asia.
Several government ministers are expected to reiterate this plan later this week at the India-Africa Hydrocarbon Conference. Held in New Dehli, the conference will host 22 oil and gas producing countries, including Algeria, Morocco, Tunisia, Mauritius and Sudan.
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