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Indian Refining Industry will emerge stronger in coming years : Dharmendra Pradhan

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KalingaTV News Network

Bhubaneswar: Union Petroleum and Natural Gas Minister Dharmendra Pradhan inaugurated the 22nd Refining and Petrochemicals Technology Meet (RPTM) here on Saturday. The theme of the Meet was “Emerging Trends in Downstream Hydrocarbon Sector”

The Petroleum Minister, in his inaugural address, expressed strong optimism about the Indian Refining industry going from strength to strength and achieving global excellence standards in the years to come despite new and disruptive technologies on the horizon.

Pradhan called upon the public and private sector oil and gas companies in the country to add at least 200 million tonnes of refining capacity in the next two decades in order to maintain India’s leadership position as the hub of Asian refining and product export.

Integrated refinery – petrochemical complexes should be the future for deriving maximum benefits for the industry, he added.

Underlining the critical importance of innovation and research & development, Pradhan was of the view that this will be vital to achieve sustainable growth and providing clean, affordable energy to a large number of people.

He also expressed happiness at the Meet being organised in Odisha and said that this will give impetus to the state being developed as the Energy Gateway to Eastern India that has been described as ‘Purvoday- a Prosperous East for a New India’.

On this occasion, the Union Minister also released the RPTM Compendium and “Report on Enhancing Refining Capacity by 2040” that gives a direction to the oil and gas industry to move forward.

Around 900 oil industry professionals from India and about 100 foreign delegates from 44 global companies are participating in the event. Among others, Petroleum Secretary K.D. Tripathi, Ambassador of Japan Kenji Hiramatsu, Chairman of Indian Oil Corporation Sanjiv Singh, Executive Director of Centre for High Technology Brijesh Kumar were present at the meet.