India is the fourth biggest global energy consumer: EIA

Posted By: Religare
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Rising energy demand amid a fast growing economy has catapulted India to the fourth biggest energy consumer in the world behind the US, China and Russia, the US Energy Information Administration (EIA) said in a report on Tuesday.

The report added that India's per capital energy consumption is lower than that of other developed nations.

India is heavily reliant on crude oil imports mainly from West Asia, to meet its domestic energy consumption needs.

The nation's total proven oil reserves at the end of last year stood at 5.5 billion barrels. Most of these oil reserves are located in Western India.

With domestic oil production coming to a standstill in the last few years, many Indian oil companies have been eying stake purchases in overseas oil assets.

In 2011, India emerged as the sixth biggest liquefied natural gas importer in 2011 in the world, the EIA report added.

Many Indian companies are undertaking investment in new regasification facilities to meet rising demand.

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