Global oil market to calm on more oil production: Petroleum Minister

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. Speaking at CII’s 12th PSE Summit here, Puri said countries in the western hemisphere are

Initiatives for biofuel reduced import costs by Rs 91k crore: Puri

India’s energy consumption is expected to treble by 2047, according to Minister of Petroleum and Natural Gas Hardeep Singh Puri. He was addressing following Tuesday’s opening of the three-day Energy Technology Meet (ETM) 2024, which was co-hosted by Indian Oil Corporation (IndianOil) and organized by the Centre for High Technology (CHT). He emphasized India’s biofuel

India to rely on fossil fuels until 2040: Puri

India, the world’s No.3 oil importer and consumer, is expected to rely on fossil fuels until at least 2040 and is positioning itself as a refining hub, Oil Minister Hardeep Singh Puri said. While global refining centers are downsizing as energy transition progresses at an unpredictable pace, India’s rising daily crude utilization means it will rely on fossil fuels

The Middle East Conflict Has No Major Impact on Energy Supplies: Hardeep Singh Puri

The government does not see any major impact on oil supplies to the country owing to the ongoing conflict in West Asia, said Union minister for petroleum and natural gas Hardeep Singh Puri. However, any further escalation of the situation could hit energy availability, he added. Shippers have been avoiding the Red Sea route for

India has natural advantage in producing green hydrogen: Hardeep Singh Puri

India has a natural advantage in producing Green Hydrogen due to the low cost and abundance of solar energy and investments in the power grid, the Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said. Addressing the gathering at the 2nd International Conference on Green Hydrogen, Puri said India has great potential in

India outperforms global average in UN sustainability goals

Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Friday said while significant portions of the world struggle with access to clean water and sanitation, India has made remarkable strides in addressing these issues. Despite the vast financing gap in achieving sustainability goals, he said, adding that India has been proactive in mobilising

100 new biogas plants likely to come up in UP

Union Petroleum and Natural Gas Minister Hardeep Singh Puri hailed the inauguration of eight new compressed biogas plants in Uttar Pradesh as an indication of the state’s great clarity on the issue of clean energy. Speaking at Chief Minister Yogi Adityanath’s residence, the Union minister said that while the PM had set clear targets for

Praj Industries commences jet fuel production from alcohol

Industrial biotechnology company Praj Industries has started the first pilot project in the country to make aviation turbine fuel from alcohol. The company’s research and development unit in Pirangut near Pune will produce sustainable aviation fuel (SAF). Union minister of petroleum and natural gas Hardeep Singh Puri inaugurated the SAF pilot project on January 20.

India taking global leadership role in biofuels supply chain

India’s GDP growth was 7.7% in the first six months of the current fiscal year, said Hardeep Singh Puri, Minister for Petroleum & Natural Gas and Housing & Urban Affairs. Elaborating on the growth-energy correlation in Indian context, he said that the growth-energy correlation is evident in India as it is now the world’s 3rd

Ethanol blending saved Rs 24,300 crore foreign exchange

Blending of ethanol into petrol has resulted in savings of over 24,300 cr of foreign exchange in the supply year 2022-23, said Union Petroleum Minister Hardeep Puri. Public sector oil marketing companies (OMCs) have saved about 509 crore litres of petrol on account of ethanol blending. Public sector oil marketing companies (OMCs) have saved about