Hardeep Singh Puri Assumes Charge as Minister of Petroleum and Natural Gas
Upon taking up his new role, Puri highlighted India's resilience in the face of global energy challenges under Prime Minister Narendra Modi's leadership.
June 15, 2024. By Abha Rustagi
Upon taking up his new role, Puri highlighted India's resilience in the face of global energy challenges under Prime Minister Narendra Modi's leadership. "India under the visionary leadership of Prime Minister Shri Narendra Modi successfully navigated the energy trilemma of energy availability, affordability and sustainability while nations in our neighbourhood and even developed countries struggled with energy rationing, pump dry-outs and spiralling fuel prices. India is perhaps the only country in the world where fuel prices have come down over a two-and-a-half-year reference period," Puri stated.
Reflecting on the progress in the LPG sector, Puri remarked, "In 2014, our LPG connections numbered only 14 crores and only 55 percent population had access to LPG cylinders and now they have reached 32 crore and all mothers and sisters now have access to LPG as our Ujjwala scheme has been very successful."
Discussing future plans for oil and gas exploration, Puri announced an expected increase in oil production from the 98/2 well to 45,000 barrels per day and the commencement of gas production soon. He mentioned, “For western offshore, ONGC has already floated a tender to get an international technology partner. All international oil and gas majors having an annual revenue above 75 billion USD have been invited to participate in this tender.”
Puri also reiterated the government's dedication to achieving a 20 percent ethanol blending target by 2025, saying, "In the month of May only, we were able to cross 15 percent of ethanol blending. As you know, the Prime Minister had set a target originally of 20 percent blending by 2030. On the basis of what I have seen and on the basis of work in progress, I am reasonably confident that the 20 percent blending target, which was brought forward from 2030 to 2025, will be completed by the year 2025.”
Highlighting the integration of green hydrogen in the refining process, Puri stated that plants in Panipat, Mathura, and Paradeep will soon be operational. “First green hydrogen plant (10 MW) was commissioned on May 27, 2024, even as elections were on. Many of our Oil PSUs are in the process of issuance of tender for supply of green hydrogen. Green hydrogen station at Kochi has been commissioned for bus plying from Kochi Airport,” he added.
Looking ahead, Puri mentioned significant projects in the refining sector, including BPCL’s greenfield refineries and GAIL's planned ethane cracker unit for petrochemicals. “BPCL’s Bina refinery is coming up and Cauvery Basin Refinery is also coming up by IOCL at Chennai,” he noted.
As both leaders settle into their roles, they are poised to continue advancing India’s energy sector through policy initiatives and infrastructural developments.
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