The International Energy Agency (IEA) sees India’s continuous dependence on imports to meet its energy needs and its diversifying of sources of supplies to farther regions as a threat to the country’s energy security.
Adequate oil stocks and spare capacity is crucial to balance the rising volatility in the crude oil market, Toril Bosoni, Head of Markets at the Internation Energy Agency told Arunima Bharadwaj in an interview on the sidelines of the India Energy Week. India is set to become the largest source of oil demand during the decade, he said. Excerpts
