Sunil Haleyangady
Daijiworld Media Network - Mangalore (RD/CN)

Mangalore, Aug 8: "The daily consumption of petroleum products in India is about 87 million barrels and it will reach 107 million barrels by 2030. The country imports 75 percent of its domestic requirement and this will likely reach 80 percent by 2017–18. Although the increase in domestic use of petroleum products is a sign of progress, the nation has to achieve sensible use of fuel," said B N Bankapur, director, Indian Oil Corporation (refineries).

He was speaking during the 52nd 'Founder's Day' celebration of National Institute of Technology–Karnataka (NITK) on the topic 'Challenge and Opportunities in the Field of Refineries', here on Saturday.

"Despite the increase in demands for petroleum products in the country, there has been no significant increase in refineries owing to environmental causes. China has achieved 2.9 percent of progress in petroleum self-sufficiency while India has achieved 2.7 percent. The country has exported 59,000 metric tonnes of petroleum products and imported 17,000 metric tonnes thereby earning foreign currency equivalent of Rs 190,000 crore," added Bankapur.

NITK director Professor Sandeep Sancheti presided over the programme.

Entrepreneur Gopal and NITK chemical engineering former head of department N V Subba Rao were present on the occasion.

Professor Gopal Mugeraya welcomed the gathering and Soumya Hegde of Computer Science compeered the programme. Katta Venkataramana proposed the vote of thanks.