New Delhi, October 12 (). 10.60 crore households in India have access to affordable LPG and 6.7 crore people fill fuel at fuel stations in the country every day, making the country the third largest consumer of oil and LPG in the world. This statement was given by Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Sunday.
“From deep-water exploration to green hydrogen and bioenergy, India, under the leadership of Prime Minister Narendra Modi, is building a future that is secure, sustainable and self-reliant,” the Union minister said on social media platform ‘X’.
The Union Minister said the country is the fourth largest LNG importer and refining hub in the world, handling 5.5 million barrels of oil per day.
“Energy is more than fuel, it is the heartbeat of the new India. It powers industries, connects people and fulfills the aspirations of 1.42 billion Indians,” he said.
Earlier, the Union Minister had said that India’s energy sector is growing rapidly amid global uncertainty due to the reforms initiated in the oil and gas sector.
“As the world faces fuel volatility, India is leading the way with reforms. The country’s refining capacity has increased from 215 to 258 million metric tonnes per annum (MMTPA) and Jamnagar is now Asia’s largest refinery, exporting petroleum products to over 100 countries,” the Union Minister said.
On the reforms in the upstream oil and gas exploration and production sectors, the Union Minister said that the Open Acreage Licensing Policy (OALP) Round 10 has opened up an area of 2.5 lakh square kilometers for further exploration and production. For ease of doing business, the approvals required for exploration have also been reduced from 37 to 18.
He said more than $1.3 billion has been invested in the upstream segment to increase oil exploration and production.
The Union Minister said India is seeing a renewed surge in oil and gas exploration with the opening of nearly one million square kilometers of ‘no-go’ offshore areas in 2022.
—
abs/
