India's Big Boost for Maritime Oil & Gas Exploration
The Indian government is looking to reduce its 90% reliance on imported crude by providing an $8.8 billion boost to private sector maritime oil and gas exploration. India also imports 50% of its gas, and its heavy dependency on imported hydrocarbons has been highlighted by the continuing closure of the Strait of Hormuz. Much of India’s currently imported oil and gas comes from the Middle East. Although government announcement on Samudra Manthan did not dwell on this aspect of the...
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