Africa to be major energy source for India, says Petroleum Minister

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New Delhi, Jan 22 (ANI): Petroleum Minister Dharmendra Pradhan has said that with the global economic situation currently at a critical phase, it is imperative that India and Africa forge deeper collaboration, particularly in the field of energy. Indian refiners boosted imports of African crude oil in 2015 to the highest in at least five years and slightly cut their intake from America as refiners benefited from changing global oil flows caused by surplus supply. Pradhan said the Government has decided to diversify energy basket. Pradhan added that the new discoveries in Africa have seen oil reserves grow by over 100 percent and gas reserves grow by over 55 percent and this would improve Africa’s position as an exporter of not only oil but also gas. India, the world’s fourth-biggest oil consumer, raised its imports of African oil as the continent’s mainly light, sweet crudes helped fill increasing demand for gasoline and diesel fuel.

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