India-Africa collaboration in energy critical, says Pradhan

New Delhi, Jan 21 (IANS) With the global economic situation currently at a critical phase, it is imperative that India and Africa forge deeper collaboration, particularly in the energy field, Petroleum Minister Dharmendra Pradhan said on Thursday.

“The global situation makes our collaboration more critical. The fourth India-Africa Hydrocarbons Conference looks to align and initiate future collaborations between India and Africa in hydrocarbons,” Pradhan said inaugurating the two-day conference here.

As many as 25 African nations have been invited for the conference. Nine of them are represented by their ministers, who were present on the dais.

Informing the audience that India is importing around 18-20 percent of its oil needs from Africa at 32 million tonnes last year, Pradhan said: “African energy helps power the Indian economy.”

“India is keen to diversify its energy sources,” the minister said, adding that this was vital for the energy security of the country that imports nearly 80 percent of its oil requirements.

Crude accounts for two-thirds of total imports from Africa while petroleum products account for a third of India’s exports to Africa.

“The compound annual growth rate of India’s hydrocarbons’ consumption has been at 7 percent, while the world average is on this count is only at 3 percent,” Pradhan said, underlining the country’s growing demand for oil and gas.

He said Indian state-run enterprises have invested in acquiring hydrocarbon assets in Africa in countries like Sudan, South Sudan, Mozambique, Gabon and Egypt.

Earlier, Petroleum Secretary K.D. Tripathi, addressing the conference, said the current continuing slump in global oil prices is an “opportune time” for forging partnerships between importers and exporters from India and Africa.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here