While a large number of important policies, activities, decisions and initiatives were undertaken by the Ministry of Petroleum & Natural Gas in last one year, what scored over every other initiative was empowerment of the rural women under the Pradhan Mantri Ujjwala Yojana program of the petroleum ministry where morethan 1.22 crore new LPG connections were released to BPL women.
As the year draws to a close, its time to check the promises versus delivery by the important economic ministries of the government.
With more than 4 Crore footfalls daily, Petroleum Sector will form the base for all success stories written on "Digital Payments" in future :Pradhan
Digital awareness campaigns to educate people about cashless transactions is clearly the flavour of the moment across the nation. Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan too launched Customer Awareness Campaigns for digital transactions at petrol pumps, the recent ones being at the auto Care Centre, a flagship HPCL Retail Outlet at Niti Marg, New Delhi and also at BPCL Outlet at Moti Bagh, New Delhi.
With LNG prices being linked to crude, the move by OPEC to cut production saw an increase in LNG to their highest level for 2016 in the Singapore market on December 2. This sparked fears that gas prices may face upward pressure as oil rises in the wake of the OPEC decision.
While as a consumer India will remain “watchful” of actions like the recent OPEC decision to cut production, the move by the oil cartel to reduce oil production will not deter the country’s plan to move towards its plan of becoming a gas based economy, oil minister Dharmendra Pradhan said on Tuesday.
Union minister of state for petroleum and natural gas Dharmendra Pradhan expressed commitment to the IEF Producer – Consumer dialogue and welcomed initiatives to ensure the Gas can make an optimal contribution to a healthy energy future through a rolling dialogue and also enhances Gas market transparency.
Moving to the level of 15% would mean that annual gas consumption would accelerate from about 50 BCM to above 200 BCM in future.
In order to meet its stated objective of becoming a gas based economy, India has set a target to raise the share of gas in its primary energy basket from at about 6.5% at present to more than double at 15%.
In view of Dr. Daniel Yergin, the need of the hour is a more prolific and mutually-beneficial inter-country collaboration on energy security, trade, infrastructure, cost reduction, global greenhouse gas emission control, investment and standards of operation and production via bilateral, regional or inter-governmental channels so that both energy producing and consuming countries can move towards a secure and sustained energy future.
The first Ministerial session at Petrotech-2016 saw participation from Afghanistan, Bangladesh, Bhutan, Brazil, Mauritius, Nigeria, Qatar, Sri Lanka, Nepal and Qatar. The session that focused on how India is poised to usher in a new era of growth in the oil and gas economy of the world with its advantages of technological advancement, favourable policies, robust economic growth and industry expertise, was presided over by Hon’ble Minister of State (Independent Charge), Petroleum & Natural Gas, Dharmendra Pradhan and moderated by Dr. Daniel Yergin, Vice Chairman, IHS Markit.
“Moving our focus towards the global scenario, we see a gradual shift from depleting, conventional reserves to unconventional sources like offshore, deep seas, at remote locations and armed with new technologies, like hydraulic fracking and horizontal drilling for heavy oil, oil sand and tight oil. These practices are more expensive and pose greater safety and environmental risks,” the minister added.
Union minister of state for petroleum and natural gas Dharmendra Pradhan said sound policy initiatives, sustained investments, regional and international cooperation will help the industry make strides in adopting new technology, finding and unlocking new supplies, and in a responsible and sustainable way be the partner in progress of all nations.
EnergyInfraPost.com brings to you the Highlights of the inaugural session of Petrotech 2016
This edition of PETROTECH is the largest ever in terms of participation of above 6,500 delegates including 20 Minister level representatives, Heads of International Oil Organizations, CEOs and Experts. I welcome the Ministers from Afghanistan, Bangladesh, Bhutan, Brazil, Cyprus, Chad, Colombia, Cameroon, Qatar, Iraq, Mauritius, Nepal, Nigeria, Sri Lanka, Sudan, South Sudan, Uganda along with the Secretary General of OPEC, Secretary General of International Energy Forum and President of the International Gas Union.
PM Modi said his government’s constant efforts have improved India’s ranking in Ease of Doing Business and that India has always been an inspiration for others in terms of intellectual capability and enterprise.
With India committed to replace ‘Red Tape’ with ‘Red Carpet’, Prime Minister Narendra Modi on Monday called upon global hydrocarbon companies to come and Make in India.
Stating that energy is the most important catalyst for achieving sustained growth, Pradhan said that in the modern world, access to energy should be a fundamental right of each human being. This, he said, is particularly true for India with a rapidly growing economy and huge aspirational population. India is committed to provide reliable and affordable energy, in a time bound manner, to a large proportion of our population which still does not have access to energy, he said at inauguration of Petrotech 2016.
Union minister of state for petroleum and natural gas Dharmendra Pradhan said on Monday that for sustainability of the oil markets, we must strike a balance of interest between producers and consumers. Stating that in June last year in an OPEC event, he had submitted the view point of India on consumption of petroleum products being price sensitive, the minister said there is a genuine issue of affordability for a sizable population in India and other developing countries. Pradhan added that therefore while deciding the pricing aspect of crude oil, it should be factored in that the security of supply must, in turn, be matched by security of demand.