Promising Stability, Puri Pledges Further Progress in India's Energy Space
Union Petroleum Minister Hardeep Singh Puri has assured continuity in policies guiding India's vital oil and gas sector, underlining his ministry's goal to build on achievements of recent years. Addressing reporters upon resuming charge of the Ministry of Petroleum and Natural Resources, Puri listed key segments poised to see additional momentum. These include exploration and production of oil and gas, refining as well as petrochemical businesses, natural gas, biofuels and green hydrogen.
As the world's third-largest oil consumer importing over 85% of needs, India is determined to boost domestic output and reduce reliance on costly imports. To this end, two new oil and gas block bidding rounds are scheduled within weeks. Puri stated upstream firms will be encouraged to collaborate with technical specialists to raise output from mature fields. Refining capacity is also being expanded through public and private sector initiatives to fulfill projected demand rises. Bharat Petroleum is planning an entirely new refinery while capacities are being scaled up at existing complexes.
With natural gas demand projected to climb on rising use for transportation, cooking and power generation, developing domestic gas reserves and import infrastructure hold importance. The Minister affirmed support for pilot projects harnessing green hydrogen's potential as a zero-emission fuel. Several public sector majors are working to establish local manufacturing capacity and a supply chain for electrolysers and associated equipment. If successful, these moves aim to position India at the forefront of the emerging global hydrogen economy.
Through continuity and further strides across its spectrum of activities, the Ministry of Petroleum and Natural Resources intends to ensure secure, affordable and sustainable energy supplies for the nation. Puri remains tasked with enabling India's ongoing march toward stronger energy security and independence.
