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BPCL disinvestment plan: Upstream assets likely to play a vital role in India’s energy security, need to protect them Moneycontrol 13 hours ago Sandip Das © Sandip Das BPCL disinvestment plan: Upstream assets likely to play a vital role in India’s energy security, need to protect them India faces a range of evolving energy security challenges. India’s combined import bill for fossil fuels is likely to triple over the next two decades, with oil by far the largest component, a February 2021 report by the International Energy Agency (IEA) says. Domestic production of oil and gas will continue to fall behind consumption trends and the net dependence on imported oil will rise from 75 percent currently to above 90 percent in 2040, IEA s India Energy Outlook 2021 report says. It warns that this continued reliance on imported fuels creates vulnerabilities to price cycles and volatility as well as possible disruptions to supply.

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