PM Modi to interact with global business leaders from oil and gas sector

Oct 20,2021

Prime Minister Narendra Modi will interact with chief executive officers (CEO) and experts of the global oil and gas sector on Wednesday at 6pm to discuss key issues and potential opportunities in the sector, the Prime Minister’s Office said in a statement on Tuesday.

“The broad theme of the upcoming interaction is promotion of clean growth and sustainability. The interaction will focus on areas like encouraging exploration and production in hydrocarbon sector in India, energy independence, gas based economy, emissions reduction – through clean and energy efficient solutions, green hydrogen economy, enhancement of biofuels production and waste to wealth creation,” the press note from the PMO said.

The meeting comes in the backdrop of fuel prices rising to record levels in India partly due to crude oil prices increasing internationally while New Delhi looks for ways to reduce its heavy dependency on crude oil imports, which currently stands at 85% of its total fuel basket.

CEOs and experts from leading multinational companies (MNCs) and international organisations will be participating via video conferencing in the event, the sixth such annual interaction between the PM and global leaders in the oil and gas sector, which began in 2016.

The deliberations are focused on “key issues of the sector and exploration of potential areas of collaboration and investment with India”, the official communique said.

The Union Minister of Petroleum and Natural Gas Shri Hardeep S Puri will also be present on the occasion.