The central government has put in place a multi-pronged strategy, including faster exploration and acquisition of oil fields abroad, to secure energy at affordable rates, Petroleum Minister Murli Deora said."The distinctive features of the multi-pronged strategy include faster exploration of domestic sedimentary basins to enhance indigenous production of fuel from the existing producing fields, acquisitions abroad to supplement domestic production, and development as well as commercialisation of alternative fuels," Deora said while addressing the Petrotech Conference here today."We have made substantial progress in the restructuring of the petroleum sector with a conscious and determined policy shift to a competitive market economy including increasing private sector and international participation in all important segments of the industry," Deora added.
