During the visit, the Indian minister will deliver his special remarks at the inaugural ceremony of ADIPEC-2022 along, and few select other ministers, reports Asian Lite Newsdesk
Minister of Petroleum and Natural Gas (MoPNPG) Hardeep Singh Puri will hold bilateral discussions with the United Arab Emirates (UAE) at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022 to strengthen energy cooperation within the overall framework of India-UAE strategic partnership.
The discussion is scheduled during Puri’s visit to the UAE from Monday to attend the Opening Ceremony of the ADIPEC-2022 on the invitation of Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure, UAE, and Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology UAE & Managing Director and Group CEO Abu Dhabi National Oil Company (ADNOC), said a MoPNG official communique.
During the visit, the Minister will deliver his special remarks at the inaugural ceremony of ADIPEC-2022 along, and few select other Ministers Abdulaziz bin Salman Al Saud (Minister of Energy of Saudi Arabia), Haitham Al Ghais (Secretary General OPEC) and Tarek El Molla (Minister of Petroleum and Mineral Resources Egypt).
“The Minister is scheduled to have bilateral discussions with his counterparts from UAE, Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure, and Dr Sultan Ahmad Al Jaber, Minister of Industry & Advanced Technology, MD & Group CEO, ADNOC, to strengthen energy cooperation within the overall framework of India-UAE Strategic Partnership,” the communique mentions.
Puri will also have meetings with his counterparts from various countries and the heads of international energy organizations and CEOs of global oil and gas companies, who are attending the ADIPEC- 2022.
During the event, the Minister will also inaugurate the India Pavilion, set up jointly by the Federation of Indian Petroleum Industry (FIPI) and the Confederation of Indian Industry (CII).
Hosted by ADNOC, ADIPEC is one the world’s leading events of the energy industry and aims to provide insights on the latest trends affecting an evolving global energy system including the global economy, energy supply and security challenges, as well as the next generation of energy solutions.
India’s oil aim for 2030
Indian petroleum industry is at the cusp of opportunity and will be able to produce 25 per cent of its crude oil demand by 2030, Minister Puri said.
At present, five million barrels of petroleum is being consumed in our country every day and it is also increasing by three per cent, which is higher than the global average of nearly one per cent, Puri added.
The Union Minister shared this with media at the three-day South Asian Geoscience Conference, GeoIndia 2022, at JECC, Sitapura in Rajasthan’s Jaipur.
Veteran Geologist Shyam Vyas Rao, former Director (Exploration), Oil and Natural Gas Corporation Limited (ONGC), was also presented with the lifetime achievement award by the Union Minister in the inaugural session.
Ethanol-blending percentage in petrol increased to 10 per cent in last nine years.
In the inaugural session, Puri said that the ethanol-blend percentage in petrol has increased from 0.67 per cent in 2013 to 10 per cent in May 2022, i.e., five months ahead of schedule. It is reducing 2.7 million tonne of CO2 emissions which is good for the environment.
As per the International Energy Agency estimates, India will contribute a quarter (25 per cent) of the growth in global energy consumption in the coming two decades.
Petroleum Secretary Pankaj Jain said the geology experts should utilise this opportunity to elevate their contribution in the context of increasing demand and scarcity of energy sources.
He asked geoscientific fraternity to develop tailored knowledge for deep water, ultra-deep water and onshore to enhance oil and gas production while doing it in environmental sustainable manner.
Earlier, Rajesh Kumar Srivastava, CMD, ONGC, and Chief Patron of APG, said, “GeoIndia has been a major leader in the last 14 years under the aegis of Association of Petroleum Geologists (APG) India. The biennial South Asian Geology Conference and Exhibition has evolved in terms of size and international participation. The global market value of automation technology in the oil and gas sector is projected to nearly double and reach nearly $42 billion by 2030. It is high time that the oil and gas sector take advantage of the digital transformation.”
