Petroleum Ministry

Union Petroleum and Natural Gas Minister Hardeep S Puri said on Friday that de-dollarisation of oil purchases was never the objective, emphasising that "most transactions are in dollars and always have been". Instead, he clarified that the primary objective is to procure sufficient oil "at lower prices" to help control inflation. "De-dollarisation is not an objective at all. Most of these (oil) transactions are in dollars and always have been. We had one transaction in rupees, but I think it was a very small one. Transactions in rupees are a good thing, but it takes two to tango," Puri told PTI during a press conference. Exuding confidence that India has established contacts with the new US administration led by President Donald Trump, he said the Indo-American relationship on the energy front will deepen. According to the Union Minister, India is already purchasing energy worth up to USD 20 billion from the US, emphasising that Prime Minister Narendra Modi recently had a very ...

Union Minister Hardeep Singh Puri here on Friday held comprehensive discussions with "captains and professionals of India's energy sector entities" and officials of the Ministry of Petroleum and Natural Gas.Taking to X, Puri informed that the discussions were focused on green energy transition, leveraging artificial intelligence along the entire hydrocarbon value chain and expansion and strengthening of existing infrastructure."Held comprehensive and detailed discussions with captains & professionals of India's energy sector entities & officials of @PetroleumMin in Mangaluru on the journey ahead for the sector under the visionary & decisive leadership of PM @narendramodi Ji," Puri wrote on X."As India pivots toward transforming into a global energy hub, the sector is experiencing unprecedented growth & offers abundant investment & employment opportunities. Key focal areas of the day-long discussion today included green energy transition, leveraging ...

In 2021, India overhauled its policy to allow part of SPRs to be used commercially, mirroring a model adopted by countries such as Japan and South Korea that allows private lessees, mostly oil majors

The decision came after a communication from the Ministry of Petroleum and Natural Gas, which said that no funds had been earmarked for capital support to Oil Marketing Companies in the 2024-25 Budget

Petrol, diesel pump prices may be reduced by OMCs if global crude oil prices remain low

Puri had also helmed the civil aviation, and housing & urban affairs ministries, and served as the minister of state for commerce and industry in the second term of the Modi government

Prime Minister Narendra Modi is scheduled to inaugurate the Barauni-Guwahati Natural Gas Pipeline (BGPL), a milestone project linking the North East region to the National Gas Grid, during his visit to Assam on Saturday, a top official of the executing company, GAIL (India) Ltd, said. This pipeline will provide a dependable source of clean energy, foster economic growth and enhance the overall well-being of the people of the region, GAIL's executive director (Projects) AK Tripathi told reporters here on Friday. The 718km pipeline which traverses through Bihar, West Bengal and Assam has been built at a cost of Rs 3,992 crore by GAIL, a Maharatna PSU under the Ministry of Petroleum and Natural Gas, he added. The pipeline is designed to supply natural gas to nine geographical areas covering 31 districts across these three states through authorised city gas distribution (CGD) entities along its route, Tripathi said. Tripathi highlighted the unique challenges encountered during the ...

Puri, who is in charge of the Petroleum and Natural Gas Ministry, said India enjoys a buyers' position and foreign oil suppliers are making offers to its companies

In the ninth bid round, 28 blocks, with an area of approximately 136,000 square kilometres, are on offer for bidding

Puri says India open to importing from any country not under sanctions

India, the world's third-biggest oil importer and consumer, imports over 80% of its oil needs and has built strategic storage at three locations in southern India

The hike in prices is likely to hurt consumers as the gas distribution companies are expected to increase prices of CNG and PNG

The government commits to green hydrogen development, encourages collaboration with private sector as global demand for hydrogen is expected to reach 200 million tons by 2030

Sees promise in Assam's methanol economy; has asked state's CM to explore possibility of converting normal to methanol trucks

Hardeep Singh Puri said the government is "acutely aware" of the need for a just and stable energy transition

Large project plans such as the 60 MMTPA West Coast refinery have stagnated

Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers

Implementing one per cent sustainable aviation fuel in all domestic flights by 2030, would require 140 million litres of ethanol

With national fuel demand rising quickly, core team of officials to look into issues holding up planned refinery projects

Announced in 2018, SATAT scheme has been able to establish only 46 CBG plants until now