Petroleum Minister Hardeep Singh Puri shares glimpses for upcoming energy projects of PSU

Reiterating the government’s commitment to achieving a 20% ethanol blending target by 2025, the Minister said, “In May only, we were able to cross 15% of ethanol blending.”  

Petroleum Minister Hardeep Singh Puri shares glimpses for upcoming energy projects of PSU

Soon after taking charge as Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri asserted India under the vision of navigating the energy trilemma of availability, affordability, and sustainability.

The Minister said, “In 2014, our LPG connections numbered only 14 crores and only 55% population had access to LPG cylinders and now they have reached 32 crore and all mothers & sisters now have access to LPG as our Ujjwala scheme has been very successful.”

Speaking about Exploration and Production, Shri Puri said that Oil production from the 98/2 well will increase to 45,000 barrels per day very soon and gas production will also start soon. “for western offshore, ONGC has already floated a tender to get an international technology partner. All international oil and gas majors having an annual revenue above 75 billion USD have been invited to participate in this tender.”, he noted.

Read Also : IRCON Recruitment 2024: Public Relation Officer Vacancies, Here to know full details

Reiterating the government’s commitment to achieving a 20% ethanol blending target by 2025, the Minister said, “In May only, we were able to cross 15% of ethanol blending.”  

He further added, “As you know, the Prime Minister had set a target originally of 20 percent blending by 2030. On the basis of what I have seen and in the basis of work in progress, I am reasonably confident that the 20% blending target, which was brought forward from 2030 to 2025, will be completed by the year 2025.”

Read Also : South Indian Bank kicks off to a Flying Start with a Solid Net Profit of Rs. 294 Cr. in Q1 of FY 25

Highlighting the government’s dedication to integrating green hydrogen in the refining process, Shri Puri said that green hydrogen plants at refineries in Panipat (10 KTA), Mathura (5 KTA), and Paradeep (10 KTA) will be installed soon.

“The first green hydrogen plant (10 MW) was commissioned on 27th May 2024, even as elections were on. Many of our Oil PSUs are in the process of issuing of tender for the supply of green hydrogen. Green hydrogen station at Kochi has been commissioned for bus plying from Kochi Airport.”, he added.

Talking about upcoming projects in the refining sector, Shri Puri, said that BPCL is in the advanced stage to set up greenfield refineries and GAIL is also planning an ethane cracker unit for petrochemicals. “BPCL’s Bina refinery is coming up and Cauvery Basin Refinery is also coming up by IOCL at Chennai”, he added.

Read Also : Bank of India Raises Rs. 5,000 Crore Through Long Term Infrastructure Bonds