New Delhi: Noting that India's oil and gas potential still remains untapped, Vedanta Chairman Anil Agarwal said that the country needs to produce at least 50 percent of the required oil and gas domestically for ensuring its energy security. Sharing his views on social media, Agarwal stressed, “For India’s energy security, at least 50 percent of the oil and gas must be produced within the country,” noting that self-reliance in energy is crucial as global consumption continues to rise.
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The Vedanta Chairman stressed on the need for India to harness all available energy sources — renewables, coal, and oil and gas — to meet the country’s rapidly growing energy demand. He said that while India has achieved significant milestones in renewables and coal production, there remains untapped potential in oil and gas, which must be harnessed to ensure long-term energy security.
Encouraging young entrepreneurs to play a leading role in this transformation, he added, “This is the work of our youth. They should be encouraged with easier compliance and genuine ease of doing business. If we empower them, India will not just achieve energy independence but will emerge as a global superpower.”
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Vedanta Limited plans to double its oil and gas production to 3 lakh barrels per day, Energy Watch had previously reported. The oil and gas expansion strategy includes the recent acquisition of seven new blocks under the Open Acreage Licensing Policy (OALP).