Oil and Natural Gas Corporation limited (ONGC) Chairman cum Managing Director (CMD) Sudhir Vasudeva on Friday said that manufacturing industry of India was suffering due to the high price being paid by India to foreign countries for oil purchasing.
“Today pricing of oil is getting complicated because of the geo-political compulsion. We have to import large quantity of oil but rupee fall in business market is making our job difficult,” he conceded while addressing the audience at the launching of Post Graduate Program in Energy Management (PGPEM) at Indian Institute of Management, Ranchi (IIM-R).
IIM-R in collaboration with University of Houston (Texas, USA) and University of Petroleum and Energy studies will be aligning this diploma to as many as 21 professionals of energy management in public and private companies enrolled as participants for this session.
Explaining the PGPEM course details, Jharkhand born Dr Binay Anand from University of Houston said, “The PGPEP comprises six semesters. Participants would be taken for United States tour (Houston) in December during the second semester and to Dehradun in the fifth semester. The remaining semesters will be carried out at Ranchi till December 2014.”
India ranks the third position in energy consumption such as oil, gas and coal after China and United States.
Pointing this consumption to low production of energy in the country, Sudhir said, “In 2012, we produced only one percent of oil. The case was almost same for gas production. Infact, the quality of Indian coal is not very good and the production generated by it in 2012 was only eight percent. 92 percent oil, gas and coal come from fossils leading to only 2.8 fuel productivity.”
ONGC set up in 16 countries across the globe has recently cleared the shale gas policy and concentrating on its exploration, after the success of a pilot project in the Damodar basin. Vasudeva informed that Jharkhand State Electricity Board (JSEB) will also be generating this shale gas in the coming days.
Vasudeva highlighted on the large security energy agenda which needs to be discussed. He also stressed on the need of global security with respect to the reacting market according to the rise and falling oil prices. “Presently, we are generating 60 million tonnes of oil and meet 22 percent of country energy consumption. By 2030, we aim to get 30 percent of this consumption,” added the CMD.
like a separate ministry for petroleum and power, Vasudeva felt the need for a ministry of energy for its proper management in India.
On the other hand, JSEB Chairman SN Verma present here informed that his department is working on strengthening the power system of Jharkhand by implementating the Energy Policy and the vision document of 10 years. JSEB is also working on power waste and consumption wherein it will provide electricity to all the 29,000 villages of the state. As of now, 27,000 villages are provided electricity by JSEB.
“Jharkhand is the fourth state of India to have maximum source of power and we want to utilize it,” said Verma.