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Italy plans to double its oil, gas production by 2020

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A new energy strategy, presented to the cabinet on Tuesday, said it aims to have 14 percent of its energy needs met by domestic production by 2020 from the current 7 percent.

 

The move is part of a packet of measures Rome says will help reduce imports to 67 percent of the country's energy needs from 84 percent at present, while also slashing 14 billion euros ($18.23 billion) per year off its 62 billion euro energy import bill.

 

Copyright Reuters, 2012