Photo: Ramesh Pathania/MintNew Delhi: India, the world’s third-largest energy consumer after the US and China, will host the 16th International Energy Forum Ministerial (IEF—16), that will be inaugurated by Prime Minister Narendra Modi on Wednesday. Extreme volatility has marked crude oil prices, which reached a record $147 per barrel in July 2009. The ministerial hosted by India also assumes significance given that the country’s energy needs are primarily met through imports, with India importing 214 million tonnes of crude oil in 2016-17. “The International Energy Forum (IEF) aims to foster greater mutual understanding and awareness of common energy interests among its members. Its 72 Member Countries are signatories to the IEF Charter, which outlines the framework of the global energy dialogue through this inter-governmental arrangement.

Source: Mint April 10, 2018 05:48 UTC