why does india have to import oil
Answers
Answer:
Explanation:
because we have big oil gland
Answer:
The natural gas industry in India began in the 1960s with the discovery of gas fields in Assam and Gujarat. ... India imports 82% of its oil needs and aims to bring that down to 67% by 2022 by replacing it with local exploration, renewable energy and indigenous ethanol fuel.
India's crude oil imports from UAE, jumped 22 per cent to 17.49 MT in 2018-2019, as compared to 14.29 MT imported in the 2017-2018. India's imports from sanction-hit Venezuela dropped 5.56 per cent to 17.32 MT last fiscal as compared to 18.34 MT imported in the previous year.
India began importing crude oil from the US in 2017 as it looked to diversify its import basket beyond the OPEC nations. It bought 1.9 million tonnes (38,000 bpd) of crude oil from the US in 2017-18 and another 6.2 million tonnes (1,24,000 bpd) in 2018-19.