why does india have to import oil
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The present refining capacity is adequate to meet the demand of petroleum products in the country in the near future on an overall basis.
However, some products like LPG and Lubes are in deficit and are being imported. The minister said that net import of LPG and Lubes was 6,093 thousand metric tonnes (value Rs 30,402 crore) and 1,409 TMT (value Rs 8,877 crore), respectively, during 2012-13.
However, some products like LPG and Lubes are in deficit and are being imported. The minister said that net import of LPG and Lubes was 6,093 thousand metric tonnes (value Rs 30,402 crore) and 1,409 TMT (value Rs 8,877 crore), respectively, during 2012-13.
nishu2000:
can u make it more clear??
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Answer: India produces only 15 % of the needed oil by itself.
Explanation:
India produces only 15% of the needed oil by itself, so we have to import oil. Though data shows that the oil imported by India has surged very steeply over the last two decades, India currently is the third largest buyer of oil in the world (with the thirst of roughly 4 million barrels per day).
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