This refers to “Sensex falls 642 pts, Nifty ends at 10,818 on oil crisis and global tension” (September 18). India’s demand for crude is assessed at 8.2 million bbl/d by 2040, while domestic production will remain relatively flat at around 1 million bbl/d. We depend on Middle East for 60-65 per cent and the rest from the West and Africa. Our supply distributions are across several countries, including Iran, Libya, Sudan, and Nigeria. The Saudi Arabia one is a new development and now uncertain geo-political trends would make us ever dependent on imports.
Foreign investment in exploration in India has waned