Crude import dependence to go up: Aiyar

Import dependence of crude oil is expected to rise to about 85% by 2025 as against the current level of 70%, according to a statement by petroleum minister Mani Shankar Aiyar in the Rajya Sabha today.

He said a total investment of about $0.94 billion had been made till December 31, 2004 in 90 exploration blocks contracted by various companies in the first four rounds of the new exploration licensing policy.