India’s Oil Reserves May Last Only Until 2016

3 December 2004

India News. At the current rate of production, India’s discovered oil reserves are expected to last only until 2016 if no new discovery is made, according to Petroleum Minister Mani Shankar Aiyar.

More pressure on the global oil supply, more pressure on India to work out its alternatives to pertroleum.  India—like many countries  in years to come—will increasingly rely on a poly-fuel strategy. Natural gas in particular will play an increasingly large role in the short- to medium-term for transportation and energy generation.