Hardeep Singh Puri

State-owned Oil and Natural Gas Corporation (ONGC) has made four more discoveries since it first made an oil field near Asokenagar in West Bengal six years back but is still awaiting the state government's nod for a petroleum mining lease to develop them, Oil Minister Hardeep Singh Puri said on Thursday. ONGC notified the first Asokenagar discovery in Block WB-ONN-2005/4 on September 24, 2018, Puri said in a written reply to a question in Lok Sabha. The discovery, he said was the outcome of continuous exploration efforts of ONGC in the Bengal sedimentary basin over five decades. As per initial laboratory studies, crude oil, which is refined into fuels like petrol and diesel, discovered in the Ashokenagar discovery is a light variety with American Petroleum Institute (API) gravity of 40-41 degrees and is almost similar to Bombay High and Brent Crude. "ONGC, accordingly, applied on September 10, 2020, to the Government of West Bengal for a grant of Petroleum Mining Lease (PML) for an

A bill to amend the existing law governing exploration and production of oil and gas will provide policy stability to investors as also promote ease of doing business, Oil Minister Hardeep Singh Puri said on Friday. Speaking at the Geo India 2024 conference in Greater Noida, on the outskirts of the national capital, the minister said the government's reforms agenda to make it easier to find and produce crude oil (which is refined into fuels like petrol and diesel) and natural gas (which is used to generate power, make fertilizer or turned into cooking gas and CNG) will continue. He promised interference-free administration. "If you have a private sector company which is family owned, you still have interference. But if you have well run state oil companies as our oil firms are, and you have a minister like me, you will have zero interference. I have said that repeatedly," he said. The Oilfields (Regulation and Development) Amendment Bill, 2024 was introduced in the Rajya Sabha in .

Government hoping to pass Oilfield Amendment Bill in upcoming winter session of Parliament, oil minister says

India, the world's third largest oil consuming and importing nation, is hoping that more oil production coming from the western countries like the US and Canada will calm the markets and bring stability in prices, Petroleum Minister Hardeep Singh Puri said Thursday. Speaking at CII's 12th PSE Summit here, Puri said countries in the western hemisphere are adding more production which may influence oil producers cartel OPEC to also raise output to earn more while the era of fossil fuel lasts. Volatile oil prices upset economies reliant on imports for meeting their needs as they not just have to spend extra on buying the fuel but also import inflation that impacts purchasing powers of their people. "Today more production is coming on the global market from the Western Hemisphere. Brazil, Guyana, Canada and the US are adding more production... with more and more oil coming, one expects as a result that the market situation will calm," he said. This would also at some stage lead to ...

The minister said there are "robust discussions" among state-owned and private refiners to scale beyond 310 mtpa, which might be achieved even before the targeted 2028

New Delhi has repeatedly defended its purchases from Russia as necessary to keep prices in check

He said technological changes such as green hydrogen and the transition to cleaner energy will change the global oil demand landscape in five years

Union Minister Hardeep Singh Puri alleged that Congress is losing strength because of its 'ill-conceived and badly thought-through policies' and that its leaders are 'getting frustrated'

Oil Minister Hardeep Singh Puri on Saturday took on Congress president Mallikarjun Kharge for "delusional opinions", saying the opposition party was using "lies, fabricated figures and fake data" in its classic shoot and scoot policy. In a series of post on X, Puri quoted data to counter Kharge's assertions saying the Modi government's inclusive development policies will make the country a developed nation by 2047. "Congress Party and Mr Kharge seem to be oblivious of the changes that have transformed the lives of Indians for the better," he said. The Modi government has pulled more than 24 crore Indians out of multidimensional poverty. This was aided by construction of more than 11 crore toilets, 12 crore tap water connections, over 10 crore free cooking gas connections, healthcare, bank accounts for 51 crore, three times hike in capital expenditure, and policy reforms such as GST, startup India, IBC and PLI scheme. "We ensured the price of petrol and diesel did not rise even when

Ratan Tata was an institution in himself, not just India's leading and noblest business titan, Hinduja Group Chairman GP Hinduja said on Thursday. In his condolence message at the demise of the Chairman Emeritus of Tata Sons, Hinduja said Tata will always live on in the countless Indians whom he touched with his professional and philanthropic deeds. "Ratan Tata was not just India's leading and noblest business titan; he was an institution in himself. Ratan added many enduring chapters to the Tata Legacy by taking it global," he said. Stating that Tata truly represented India's aspirations, Hinduja said, "He will always live on in the countless Indians whom he touched with his professional and philanthropic deeds. Tata (86) died late on Wednesday evening in a Mumbai hospital following age-related health conditions.

India will be able to navigate through any oil supply shock that may result from the potential widening of the conflict in the Middle East, Oil Minister Hardeep Singh Puri said on Tuesday. International oil prices have flared to near USD 79 per barrel from about USD 70 per barrel in just over a week's time, as the market waited to see if Israel would retaliate against Iran for the October 1 missile attack. "There is no cause for panic," Puri said. "More than enough oil is available in the world." While India, the world's third largest oil importing and consuming nation, is more than 85 per cent dependent on imports to meet its crude oil needs, the situation is "manageable", he said. "There is no need for concern." "We are pretty confident we will be able to navigate as we had done in the past," he said. This is primarily because the market is awash with oil supplies and if some parties hold back production or there are supply issues, there are new suppliers in the market to fill i

With global oil prices flaring due to widening conflict in the Middle East, India is watching the situation carefully and is confident of navigating any challenges it may pose, Oil Minister Hardeep Singh Puri said on Monday. International oil prices have flared to over USD 78 per barrel from about USD 70 per barrel, as the market waited to see if Israel would retaliate against Iran for a missile attack last week. "We are watching the situation very very carefully," Puri said at ExxonMobil Global Outlook 2024 here. Energy availability, he said, can be affected if there is an escalation in the Middle East. But supplies are not impacted and India, the world's third largest oil consuming and importing nation, is confident of being able to navigate any situation. "I am confident, we will be able to navigate as we did previously," he said. Puri said there is no shortage of oil and India is confident of sourcing its requirement. After the Iranian missile attack, it is being speculated

The board of global energy giant bp plc is holding its meeting in India in signs of its commitment to and confidence in opportunities in the country, the firm said on Wednesday. "The 5-day visit of the bp board reflects bp's significant and growing presence in India and its commitment to further develop its businesses in and with the country," it said in a statement. Recognising India's key role in global energy demand, during their visit the board will also hold meetings with the Indian government and bp's business partners, as well as visiting key bp India locations. The statement, however, did not elaborate on the meetings or the venue of the board meeting. Meeting Petroleum Minister Hardeep Puri, bp chair Helge Lund commented, "bp is committed to working closely with the government of India to support its changing energy needs. By leveraging our combined experience and expertise with our partners, we aim to facilitate the secure, affordable, and lower carbon growth of India's .

India and Brazil deepen energy ties as Petrobras meets with the Union Minister of Petroleum and Natural Gas Hardeep Singh Puri in Brasilia

Petroleum minister Hardeep Singh Puri lauded India's economic growth under Prime Minister Narendra Modi, saying the country has advanced from the 10th largest economy in 2014 to the 5th largest by 2019, surpassing the UK. Speaking at a community reception, organized by Consul General of India in Houston, D C Manjunath, at India House here, Puri emphasized Houston's pivotal role in the global energy sector, particularly in green hydrogen and aerospace. Expressing his thoughts about deepening US-India collaboration in the clean energy sector, Puri praised India's refining capacity and initiatives in biofuel blending, aiming to boost refining capacity to 300 million metric tons per annum. He termed the US-India Strategic Clean Energy Partnership as a cornerstone of future collaboration between the two countries. He acknowledged the political successes of Prime Minister Modi's party in the recent elections and said the country under Modi's regime has advanced from the 10th largest econ

European countries and Japanese businesses are buying from Russia, so India is not alone, he said

Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand, Indian Minister Hardeep Puri said here on Tuesday at a multinational conference held to deliberate on the world's energy needs. The 52nd Gastech Exhibition & Conference kicked off Tuesday with strategic insights from the world's five leading energy ministers, including India's, at the George R Brown Convention Center. The event, themed 'Transforming Energy Through Vision, Innovation, and Action,' brought into focus a need for global energy stability and rapid decarbonisation. In his keynote address, Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri underscored India's increasingly dominant role in the global energy landscape. "If global demand is increasing by one per cent, ours is surging three times faster. Over the next two decades, India will contribute to 35 per cent of the global increase in energy demand," he said. He framed India's challenge as an ...

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri held a meeting with US Assistant Secretary of State for Energy Resources Geoffery Pyatt on the sidelines of GasTech 2024 in Houston. The two leaders reviewed the existing energy cooperation and agreed to explore ways to further strengthen bilateral cooperation across the energy value chain for "just and orderly energy transition."During the meeting, Puri and Pyatt discussed how the cooperation between two nations is strengthening in the energy sector due to collaboration between the institutions and companies from India and the US.Sharing details regarding his meeting with Geoffery Pyatt, Hardeep Singh Puri stated, "Met my friend for more than three decades & US @AsstSecENR Mr Geoffery Pyatt at #GasTech2024 in Houston today.""We reviewed the existing energy cooperation & agreed to explore ways to further strengthen bilateral cooperation across the energy value chain for just & orderly energy transition. ..

17.3 mn metric tonnes of crude oil substituted, 51.9 mn tonnes of CO2 emissions averted, the minister said

The government on Monday said the blending of ethanol with diesel is still at an experimental stage, and there is no plan, at present, to mandate it, as initial tests showed the formation of deposits in fuel tanks and other implications. Replying to a supplementary question in the Rajya Sabha on whether the Centre plans to mandate the blending of ethanol with diesel, Minister for Petroleum and Natural Gas Hardeep Singh Puri said, "The issue of blending ethanol with diesel is still at an experimental stage, and I can say categorically that at present there is no plan to mandate". Elaborating further, the minister said the reason is that oil marketing companies have tested up to 7 per cent of ethanol in diesel in collaboration with the Automotive Research Association of India and select original equipment manufacturers. "The initial tests have shown that there would be a reduction of flashpoint to 15 degrees Celsius with a 5 per cent ethanol blend and we require material compatibility