By N Chandra Mohan

These are challenging times for India’s energy security with relentless pressure from the US to reduce its purchases of deeply discounted Russian oil if the bilateral trade deal is to go through. Punitive tariffs of 50% will remain amid indications that our dependence on Russian oil might attract even higher duties. India’s reliance on imports for its oil requirement, which is as high as 88%, faces geopolitical risks.

To bolster its energy security, India must make determined efforts to boost domestic oil output that has been steadily declining. This has been falling for various reasons including low investment due to obstructive regulations, high taxation, and declining output from mature fields. India also lacks the technological capability for deep-water explorati

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