India will run out of crude oil reserves by the year 2011-12 even if only 30 per cent demand is met through domestic production, warns the ninth five year Plan document while emphasising on the need for new discoveries. India's dependence on import of crude will rise to 70 per cent by 2001-02 from the present 60 per cent and the oil import bill will soar to Rs 48,830.8 crore from Rs 34,908.6 crore, the plan, approved by the NDC said.