Jaipur

Indian petroleum industry is at the cusp of opportunity and will be able to produce 25 per cent of its crude oil demand by 2030, Union Petroleum and Urban Affairs Minister Hardeep Singh Puri said on Friday.

At present, five million barrels of petroleum is being consumed in our country every day and it is also increasing by three per cent, which is higher than the global average of nearly one per cent, Puri added.

The Union Minister shared this with media at the three-day South Asian Geoscience Conference, GeoIndia 2022, which began at JECC, Sitapura in Rajasthan's Jaipur on Friday.

In the inaugural session, Puri said that the ethanol-blend percentage in petrol has increased from 0.67 per cent in 2013 to 10 per cent in May 2022, i.e., five months ahead of schedule. It is reducing 2.7 million tonne of CO2 emissions which is good for the environment.

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As per the International Energy Agency estimates, India will contribute a quarter (25 per cent) of the growth in global energy consumption in the coming two decades.