As precocious oil, state and ember prices endanger the nascent planetary economic recovery, Prime Minister Narendra Modi connected Wednesday invited planetary majors to go partners successful India’s proposal to go self-reliant successful vigor by 2050, a pledge helium made from the ramparts of the Red Fort connected the country’s Independence Day.
During his sixth yearly brainstorming league with a postulation of main executives of planetary vigor majors and experts, Modi underlined the argumentation measures taken by his authorities during the past 7 years successful this direction, consisting of steps to grow exploration and accumulation of lipid and gas.
As per a connection by the Prime Minister’s Office,
Modi told the CEOs India is simply an onshore of openness, optimism and opportunities; and brimming with caller ideas, perspectives and innovation.
The CEOs who attended the presentation done videoconferencing included Igor Sechin of Rosneft, Amin Nasser of Saudi Aramco, Bernard Looney of BP and Olivier Le Peuch of Schlumberger. Mukesh Ambani of Reliance Industries and Anil Agarwal of Vedanta were among the home participants.
Modi told the CEOs the focus in the oil and gas segment has shifted from ‘revenue’ to production maximization. He also spoke about the need to improve storage facilities for crude oil.
While discussing the sectoral reforms in the last seven years, Modi assured that such reforms would continue with the goal to make India self-reliant. The rapidly growing natural gas claim in the country offered huge investment potential for developing gas infrastructure, he said.
On their part, the CEOs noted that India is adapting fast to newer forms of clean energy technology and can play a substantial role in shaping global supply chains. They also gave their suggestions for ensuring sustainable and equitable energy transition as well as promotion of low-carbon growth and sustainability.
The PM said since 2016, the suggestions provided in these meetings have been immensely useful in understanding the challenges faced by the oil and gas industry.