Gyanendra BhartiAIR 537 · CSE 2023 · 195 wordsTheir whole copy
Opening
India is a net energy importer country & needs to upscale it's domestic production to reduce dependence on import.
Reason for declining domestic production:
Body · points
Limited mineral oil resources than rising demand.
Ageing oil wells & no new discoveries of oil fields.
Financial & technical constraints on the part of oil companies.
Russian cheap oil import hindered incentive to invest in new discoveries of oilfield.
Domination of state owned companies in production & exploration.
Limitation due to presence of these reserve in off shore area, tribal areas etc.
Focus on decarbonising economy & push for net zero may render investment of companies worth-less.
Suggestion
Opening the sector for more private participation. Eg. New HELP guidelines.
Capacity building of state owned companies.
Promote conducive environment for private sector through Ease of Doing (EoDB) reforms.
International collaboration for technology & fund. Eg. Reliance-Aramco collaboration. (However, it was not materialised)
Focusing on Strategic Petroleum Reserve (SPR) to store enhances production.
More impetus to ethanol blending through National Biofuel policy.
Close · a summary
India being developing country needs to enhance energy self sufficiency for both economic security & strategic autonomy.
How toppers approach this question, and more on its topic: open the question.