Shri Dharmendra Pradhan chairs Ministerial Session

Shri Dharmendra Pradhan chairs Ministerial Session and Plenary Session at 22nd World Petroleum Congress, Istanbul 

Flags importance of “Responsible Price” for crude oil; Highlights importance of producers to understand perspective of consumers and demand centres; 

Shri Pradhan held bilateral talks with Turkish Energy Minister; discussed issues of bilateral energy cooperation including in renewable energy

Minister also launches event on Hydrocarbon Exploration & Licensing Policy (HELP) as a part of process of promoting the upcoming oil & gas bidding rounds in India

Government of India has brought in a modern, progressive, investor friendly and world class policy for the next bidding round - HELP

Encourages all to take the first mover advantage and join hands with India to become partners in next round of global growth

Minister of State (I/C) for Petroleum and Natural Gas, Shri Dharmendra Pradhan chaired a Ministerial Session on the subject “Current Economic Strategies in Indian Oil & Gas Sector”. He also chaired a Plenary Session on ‘Supply and Demand Challenges for Oil, Gas and Products’ at the 22^nd World Petroleum Congress at Istanbul, Turkey.

Addressing the plenary session, Shri Pradhan said that rising middle class of emerging Asian countries like India will drive the demand for energy both in terms of electricity and cooking and transportation fuel. As incomes rise, demand for petrochemicals the raw materials for several of the lifestyle products will also increase. Giving example of India he said that the energy consumption is expected to grow to almost double by 2035. India is the only country where the demand will continue to rise for more than a decade.

He flagged the importance of “Responsible Price” for crude oil for countries like India which would allow it to provide energy to the common people. He underlined that in today’s oversupplied market, it is important for producers to understand the perspective of consumers and demand centres and the changes that have taken place in these demand centres. As the security of supplies is an important factor for consumers, security of demand is equally important for producers.