PM Modi invites CEOs to jointly work with India's oil and gas sector

PM Narendra Modi has interacted with the CEOs and global experts of the oil and gas industry through video conferencing.

He discussed in detail the reforms undertaken in the oil and gas sector in the last seven years, including exploration and licensing policy, gas marketing, coal bed methane policies, coal gasification, and the current reform in Indian Gas Exchange. He added that these reforms continue the goal of Atmanirbhar Bharat in the oil and gas sector.

He said that the focus has shifted from revenue to maximum production and also discussed the need to enhance storage facilities for crude oil. He talked about the rapidly increasing demand for natural gas in the country and the current and potential gas infrastructure development such as pipelines, city gas distribution, and LNG regasification terminals.

He added that since 2016, the suggestions provided in such meetings have been useful in understanding the challenges faced by the oil and gas industry in India. PM Modi has invited the CEOs and industry experts to partner with India in the exploration and development of the oil and gas sector in India.

India was praised for its several achievements towards improving energy access, energy affordability, and energy security. The leaders present in the meeting appreciated the leadership of PM Modi towards cleaner energy in India through visionary goals.

The members present in the meeting said that India is adapting fast to new reforms of clean energy technology and can play a vital role in shaping global energy supply chains. They spoke about sustainable and equitable energy transition and also gave suggestions about the future promotion of clean energy growth and sustainability.

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