Explore Business Standard
As the world scrambles to recover from the biggest energy shock in decades triggered by the West Asia conflict, India should be cautious about relying on traditional supply assumptions, particularly its proximity to the Middle East for sourcing oil and gas, ONGC Chairman and CEO Arun Kumar Singh said on Friday. India, which relied on the Middle East to meet nearly half of its crude oil imports, 30 per cent of its gas and 85-90 per cent of LPG, must invest in building strategic storages as an insurance against price and supply disruptions, he said. The six-week long was shut the only shipping lane that was used by the Gulf countries to export crude oil (raw material for making petrol and diesel), natural gas (used to make fertilizer, generate electricity, turn into CNG to power automobiles and piped to household kitchens for cooking) and cooking gas LPG. This led to an energy crisis in several importing countries, including India which had to prioritise supply of gas. "Thinking that
Overlooking the Arabian Sea and just a 15-minute ferry ride away from leading beachside resorts, a 4,000-seat convention centre has been built in pristine south Goa to host large conferences and marquee events, including Filmfare-scale award functions. State-owned Oil and Natural Gas Corporation (ONGC) has an Advanced Training Institute (ATI) at Betul in South Goa for training its personnel in safety and HSE practices. Its campus is spread over 1 million square metres, or roughly 250-270 acres, with the training centre being housed in a small portion. Back in 2023, a make-shift conference centre at the unused portion of the vast land at ATI hosted a second edition of India Energy Week, as convention centres that could hold an event of that size elsewhere in the country were unavailable. And there germinated the idea of building a permanent facility to add another chapter to Goa's tourism. Before the fourth edition of IEW at the end of January this year, the convention centre was ...