Government's Rigorous Efforts to Boost Oil Exploration & Production.
India’s energy story is unfolding, with unprecedented dynamism and the country is taking strenuous steps to increase exploration and production of crude oil and gas, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said.
In an interview with Moneycontrol’s Rachita Prasad on the sidelines of ‘India Energy Week 2023’, which started on February 6 and concludes on February 8 at Bengaluru, the minister spoke about India’s fuel sourcing strategy, losses made by oil marketing companies (OMCs) and the scrapping plans of divesting state-owned BPCL.
In a first, the minister also clarified on the Union Budget announcement of an allocation of Rs 35,000 crore for energy transition and energy security, which was speculated to include a compensation of Rs 30,000 crore given to OMCs.
Edited excerpts:
Your ministry has worked hard on India Energy Week. Looking at the turnout, what has been the most exciting part about this week?