The increasing industrialization and modernization of the world has to a steep rise for the demand of petroleum products. Economic development in developing countries has led to huge increase in the energy demand. In India, the energy demand is increasing at a rate of 6.5% per annum. The crude oil demand of the country is met by import of about 80%. Thus the energy security has become a key issue for the nation as a whole. Petroleum based fuels are limited. The finite reserves are highly concentrated in certain regions of the world. Therefore, those countries not having these reserves are...