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.
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.
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.
As the prime showcase of India's hydrocarbon sector, the three-day mega event will see participation of over 100 eminent speakers and 6,000 delegates from 68 countries, including technologists, scientists, planners and policy-makers, management experts, entrepreneurs, service-providers and vendors. Along with the Conference being held at Vigyan Bhawan, the event will have a concurrent Exhibition spread over 15,000 square metres at Pragati Maidan.
Preparations for the upcoming PETROTECH-2016, 12th International Oil & Gas Conference and Exhibition were
Through this short post, we seek to examine the current downtrend in oil prices, and what it means from an Indian context. As in any downtrend, the intent ought to be to maximise opportunities and isolate effects of any threats and the author accordingly seeks to analyse how these threats may be turned into opportunities.
India may turn into a net importer of fuel oil as its state-owned refiners are making multi-billion dollar investments to upgrade their refineries and produce more profitable refined products such as gasoline or diesel.
The Ethanol Blended Petrol (EBP) Programme was launched by the Government in 2003 which has been extended to the Notified 21 States and 4 Union Territories to promote the use of alternative and environment friendly fuels. This intervention also sought to reduce import dependency for energy requirements.However, since 2006, OMCs were not able to receive offers for the required quantity of ethanol against the tenders floated by them due to various constraints like State Specific issues, Supplier related issues including Pricing issues of ethanol.
The CCEA has approved the mechanism for revision of ethanol price for supply to state-owned OMCs) for smooth implementation of their Ethanol Blended Petrol (EBP) Programme. It has been decided that for the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs.39/- per litre.