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'India Faces 70% Decline In Oil & Gas Demand':Minister Dharmendra Pradhan Cites Challenges

Dharmendra Pradhan said that India has seen almost 70% decline in oil and gas demand, but has been able to fill its strategic reserves of petroleum products

India

On Monday, Petroleum and Natural Gas Minister Dharmendra Pradhan said that India has seen almost 70 per cent decline in oil and gas demand, but has been able to fill its strategic reserves of petroleum products. Pradhan held a social media live conversation to address the concerns of people in the wake of the situation created by COVID-19 pandemic.

Responding to a question on oil price and demand, he said the world is seeing a reduction in demand due to the COVID-19 pandemic and lockdown. The minister answered questions sent by people through social media.

"India has also seen almost 70 per cent decline in oil and gas demand. The oil and gas sector is going through unprecedented challenges. Despite challenges, our refineries are operating, supply chain working. India has been able to fill its strategic reserves of petroleum products. Our oil companies have procured almost 7 MMT oil at low prices. Almost 20 per cent of our demand has been stored. This has also led to reduced import bill which will help us free more resources for public welfare measures," he said

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India Reports 1,074 Recoveries From COVID-19

The Health Ministry on Monday said that India reported its highest number of recoveries in a single day with 1,074 patients getting cured and the recovery rate has improved to 27.52%. In a press briefing, the Ministry noted that the nationwide lockdown is being eased in a staggered manner and it is imperative to continue rigorous containment measures, effective clinical management, infection prevention and control and prevent any new outbreak.

"Till now, 11,706 people have been cured. In the last 24 hours, 1,074 people have been cured, which is the highest number in terms of cured patients noted to date. Our recovery rate is now 27.52%. The total number of COVID-19 cases is now 42,533," Joint Secretary for health, Lav Aggarwal said.

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READ: Coronavirus Live Updates: Lockdown 3.0 begins with tally at 42533; recovery rate at 27.52%

(Image Credits: PTI)

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