What lies beneath: getting to all that oil and gas

Already, our dependence on imported oil to meet our requirements has exceeded 75 per cent and our expenditure on imported crude oil in 2004-05 was Rs 1,17,000 crore ($26 billion). The import bill for the current year is likely to be higher. Notwithstanding the projected increase in domestic crude production from the existing level of a sliver below 35 million tonnes per annum to 50 million tonnes per annum by 2025, India

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