Union Minister Hardeep Puri highlights vision for future energy
New Delhi New Delhi: Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday lauded the significant contribution of the Oil Industry Development Board (OIDB) to India’s oil and gas industry at the Golden Jubilee Celebrations held in New Delhi. Puri highlighted the important role of OIDB in addressing key challenges in India’s hydrocarbon value chain, ensuring uninterrupted energy supply and supporting key initiatives such as skill development and policy reforms. He also outlined future goals to strengthen India’s energy security.
He said, “OIDB has been instrumental in promoting the growth of the oil and gas industry in India. It has addressed key challenges in the hydrocarbon value chain, ensuring energy security in India, supporting initiatives such as skill development and policy reforms, thereby ensuring uninterrupted supply of energy for our needs.” The minister also praised OIDB’s financing support for various exploration and production projects, refining and infrastructure development. He said, “OIDB’s financing has helped in various exploration and production projects, refining and infrastructure development, boosting indigenous capabilities and reducing our dependence on imports, although let me put it bluntly by saying that we could have done better, and if you take your eyes off the ELP (Energy Leadership Programme) chart, we have not done better.”
Looking into the future, Puri emphasised the need for international collaboration by OIDB, especially in the area of technology and renewable energy transition. “I think OIDB needs international collaboration for technology and financing, especially in renewable energy transition. Because I think now the focus will not be only on availability and affordability, which we would like to take as a sure thing, but energy transition, I think is the most important part,” he said. Minister Puri also outlined key strategic directions for OIDB to remain at the forefront of energy innovation. “Establish a dedicated research fund to focus on trafficking technologies that can keep the OIDB at the forefront of innovation, particularly, I would add, in sustainability,” he said.
