New technologies necessary to conserve energy: Deora

July 9th, 2008 - 8:34 pm ICT by IANS  

New Delhi, July 9 (IANS) Petroleum and Natural Gas Minister Murli Deora Wednesday called for deploying new technologies to efficiently utilize and conserve the country’s hydrocarbon resources. Speaking at the launch of a joint venture company to manufacture specialised products for Indian roads here Wednesday, the minister pointed out that better roads not only improved connectivity, but also contributed towards reduction in fuel consumption.

“The need of the hour is to develop new technologies in the hydrocarbon sector to achieve optimum utilization of available hydrocarbon resources in the country,” he said.

He added that with a high growth trajectory, the demand for oil was incessantly increasing, with the government having to import 75 percent of the fuel demand.

Deora said the government had a multi-pronged approach to meet the challenge of rising prices, which included acquiring oil and gas assets abroad as well as stress on fuel conservation.

French oil major Total has formed a joint venture company, Total Vinergy Bitumen private Ltd, with Indian firm Vinergy International to manufacture and market specialised bitumen products.

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