New Delhi: Prime Minister Narendra Modi on Wednesday invited global industry giants to invest in global oil and gas sector of India in his interaction with them, via video conferencing.
In the meeting, attended by industry leaders from across the world, including CEOs of Rosneft, Saudi Aramco, British Petroleum, Prime Minister discussed in detail the reforms undertaken in the oil and gas sector in the last seven years, including the recent Indian Gas Exchange. He said that such reforms will continue to make India ‘Aatmanirbhar in the oil & gas sector’.
Talking about the oil sector, he said that the focus has shifted from ‘revenue’ to ‘production’ maximisation. He also spoke about the need to enhance storage facilities for crude oil. He further talked about the rapidly growing natural gas demand in the country.
Also Read: Petrol, Diesel prices at record high levels
Prime Minister recounted that since 2016, the suggestions provided in these meetings have been immensely useful in understanding the challenges faced by the oil and gas sector. Describing the country as a land of openness and opportunities, the PM urged the CEOs and experts for partnership in exploration and development of the oil and gas sector in India.
Those attended the conference included Dr. Igor Sechin, Chairman & CEO, Rosneft; Amin Nasser, President & CEO, Saudi Aramco; Bernard Looney, CEO, British Petroleum; Dr. Daniel Yergin, Vice Chairman, IHS Markit; Olivier Le Peuch, CEO, Schlumberger Limited; Mukesh Ambani, Chairman & Managing Director, Reliance Industries Limited; Anil Agarwal, Chairman, Vedanta Limited, among others.
They appreciated the leadership of the prime minister towards the transition to cleaner energy in India, talked about ensuring sustainable and equitable energy transition, and also gave their inputs for further promotion of clean growth and sustainability.
Also read: India will push for cut in crude prices in oil industry leaders meet
