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Union Minister Hardeep Puri hails recent reforms for stabilizing petrol, diesel prices amidst global turbulence

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Union Minister of Petroleum & Natural Gas and Housing & Urban Affairs, Hardeep Singh Puri, has hailed recent reforms for stabilizing petrol and diesel prices amidst global turbulence. Speaking at the India Energy Week 2024, Mr. Puri also emphasized the significance of diversifying import sources and adjusting gas pricing mechanisms, leading to a drop in domestic fuel costs despite international price hikes.

Earlier, while participating in a ministerial panel on energy security, Mr. Puri stressed the need for a balanced transition from conventional to cleaner fuels, amid the unpredictable energy landscape.

Addressing the global energy scenario, OPEC Secretary General Haitham Al Ghais highlighted the diverse pathways for energy transition, emphasizing the continued need for investment in fossil fuel production to meet growing demand.

Echoing similar sentiments, Qatar’s Energy Affairs Minister Saad Sherida Al Kaabi cautioned against disregarding fossil fuels entirely, citing their ongoing relevance in addressing global energy needs.

India Energy Week 2024, currently underway in Goa from 6th to 9th February, has been dubbed as a major platform for advancing India’s energy transition objectives. With a focus on integrating startups into the energy value chain, the event has attracted significant international participation, including energy ministers, industry experts, and exhibitors from around the globe.

Alongside discussions on energy policy and innovation, the second edition of India Energy Week, which was inaugurated by Prime Minister Narendra Modi yesterday, also featured a roundtable with global oil & gas CEOs, underscoring India’s commitment to fostering collaboration and driving sustainable energy solutions.

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