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Initiatives in oil and gas sector are catalysing socio-economic change, says Shri Dharmendra Pradhan

Union Minister of Petroleum and Natural gas &Steel Shri Dharmendra Pradhan today said thatEnergy is the catalyst of socio-economic change. Speaking at the symposium on fuels and lubricants, he said that Investment of billions of dollars in the Oil and gas sector will bring in more job opportunities, leading to trickledown effect to drive Socio-economic growth.The sector will play an important role in double digit growth trajectory of the Indian economy, he added.

Shri Pradhan said that India is the third largest consumer of fuel in the world but willsoon reach the top as the per capita consumption in the country is on the rise. He said that the energy requirement for the future will be met through Cleaner, greener and sustainable sources, and for this, continuous R&D efforts are called for.Talking about the policy reforms in this direction, he mentioned about the PMUY, Ethanol blending, Compressed Bio Gas, bio-diesel, Coal to Syn gas, and promoting LNG as a priority transport fuel. On policy side, concrete investment plan, clarity about future targets and robust implementation strategy are bringing in a new paradigm. He said that our industry is ready to meet not only availability of energy but also quality energy.

Shri Pradhan said that we are embracing new heights in the energy vertical of the economic development. “The world is talking about sustainability. We have laid down sustainable pathways in our strategy to make energy cleaner, greener, more sustainable.

Shri Pradhan also released a logo on the occasion of golden jubilee of Indian oil’s R&D centre and a souvenir to mark the occasion.

Secretary, Petroleum and Natural Gas Shri Tarun Kapoor said on the occasion that Indian Oil R&D is doing commendable job, and has launched several products commercially. He however called for enhancing the R&D and innovation efforts so that net emission from the fossil fuels are reduced. He also stressed on increasing the fuel efficiency which will lead to reduced consumption and import dependence.

Chairman, Indian oil Shri Shrikant Madhav Vaidya and Director, R&D Indian Oil DrRamaKumar also spoke on the occasion.

The 3-day 12th International Symposium on Fuels and Lubricants (ISFL-2021) is being organized from March 15-17, 2021 on Hybrid platform by IndianOil R&D Centre, in association with Society of Automotive Engineers of India (SAEINDIA). The theme of the symposium is “Emerging trends in Fuels and Lubricants – BS VI & Beyond”. ISFL series of symposia is a biennially held program that showcases progress and advancement of Indian fuels and lubricants industry and provides a common platform for sharing latest developments, exchange ideas and forging new business relationships.