Page 4 - Hardeep Singh Puri

India's oil, gas exploration offers $100 bn opportunity, says Oil Min Puri

Oil Minister Hardeep Singh Puri on Thursday called for stepping up oil and gas hunt to cut India's reliance on imports and making available fuel at an affordable and sustainable way. Speaking at the Urja Varta conference, he said the exploration and production (E&P) sector is integral in the journey towards energy self-sufficiency, which is critical for sustained economic growth. "E&P offers investment opportunities worth USD 100 billion by 2030," he said. Stating that India's exploration and production potential still lies untapped, he said, "I find it strange that India is so heavily reliant on oil imports despite the abundant geological resources available to us." The Indian sedimentary basins hold about 651.8 million tonnes of crude oil and 1138.6 billion cubic meters of natural gas, he said. Puri said only 10 per cent of our sedimentary basin area is under exploration, which will rise to 16 per cent by 2024-end after the current bid ends. "The focus of our exploratory ...

Modi govt has increased devolution of taxes to states: Hardeep Singh Puri

On Sunday, Karnataka became the first state to raise taxes on petrol and diesel after the General Elections 2024

BPCL divestment completely off the table, says Hardeep Singh Puri

Says OMCs can consider pump price cut if global prices stay at $75-80 per barrel

Modi govt 3.0 Cabinet: Hardeep Singh Puri retains petroleum ministry

Puri had also helmed the civil aviation, and housing & urban affairs ministries, and served as the minister of state for commerce and industry in the second term of the Modi government

AAP not implementing Centre's schemes in Delhi, says Union min Puri

Union minister Hardeep Singh Puri on Wednesday accused the AAP government of not implementing the Narendra Modi government's flagship schemes, including Pradhan Mantri Awas Yojana and Ayushman Bharat, in the national capital. Addressing a press conference, Puri also alleged that the Arvind Kejriwal government created obstacles in the implementation of the Metro project in every phase. At present, the Delhi Metro has been executing projects under the fourth phase of its expansion. The Union Housing and Urban Affairs Minister said that his ministry has implemented projects worth Rs 53,000 crore in the national capital. The BJP leader also slammed Chief Minister Arvind Kejriwal for maintaining silence over the alleged assault on AAP Rajya Sabha MP Swati Maliwal allegedly by his aide Bibhav Kumar at his residence. Delhi is slated to go to polls on May 25 in the sixth phase of Lok Sabha elections.

India will be able navigate even if global tensions increase: Hardeep Puri

Union minister Hardeep Singh Puri discusses India's oil economy management amid escalating West Asia tensions and affirms BJP's strategic electoral stance in Punjab

Developed India will need matured, better real estate sector: Puri

Housing and Urban Affairs Minister Hardeep Singh Puri on Friday said a highly matured and developed real estate sector with an estimated market size of USD 1 trillion by 2030 is needed to achieve the vision of a developed India by 2047. Addressing an event organised by realtors' body CREDAI's youth wing, the minister said the enactment of real estate regulatory law 'RERA" has been a transformational development for the entire sector. "A developed India by 2047 will also require a highly matured and developed real estate sector, both in the residential and the commercial segment," Puri said. He highlighted that investments are coming into commercial real estate including data centres and warehousing. The establishment of Real Estate Investment Trusts (REITs) has also helped in attracting investments into the real estate sector, the minister added. "RERA was a transformational development. It is unbelievable that one of the largest sectors in the economy didn't have a regulator for

BJP criticises Bengal govt for opposing HC's ruling on Shajahan Sheikh

The BJP on Tuesday slammed the Trinamool Congress government in West Bengal for opposing the Calcutta High Court's order to hand over custody of suspended TMC leader Shajahan Sheikh to the CBI and called it a matter of "great shame". Addressing a press conference, Union minister Hardeep Singh Puri said the state government's decision to move the Supreme Court against the high court's order "highlights its value system". Puri said the TMC are not denying the offence but also giving Sheikh political cover. It is not the accused but the state which has gone in appeal to the Supreme Court, he said. First the state government allows such incidents to happen and then does this, the minister said, adding that "it was a matter of great shame". The high court had on Tuesday directed the investigation into a mob attack on ED officials -- when they went to search the premises of Sheikh in Sandeshkhali in North 24 Parganas district on January 5 in connection with a ration scam probe -- to be .

Govt relaxed about OPEC+ cutting oil output, says oil minister Puri

India's oil-buying spree comes as the Organization of Petroleum Exporting Countries and its allies, including Russia, are capping their production amid demand concerns

Govt making efforts to keep CNG prices under control: Oil minister Puri

The government is making constant efforts to bring the prices of compressed natural gas under control and has delinked Indian gas prices from four international hubs based in US, Canada, UK and Russia, and aligned them to the Indian crude basket, Oil minister Hardeep Puri informed the Rajya Sabha. Responding to supplementaries during the Question Hour, he said the government is encouraging consumption of compressed natural gas as it is relatively a cleaner fuel. "The government has ensured that while global prices were witnessing turbulence, massive increases and shortfall. Lockdown prices do not reflect reality prices, as during the lockdown crude prices came down to USD 19.56 per barrel and then shot up to USD 128 and USD 130 per barrel. "In April 2023, we rationalised the CNG prices and as a result while global prices shot up, domestic gas price was much lower, 83 per cent lower," the minister told the upper house. "It is our constant effort to provide more gas for domestic cook

100 new biogas plants will soon be established in UP: Hardeep Puri

Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Saturday said that 100 new biogas plants will soon be established in Uttar Pradesh. Speaking to reporters in Lucknow before going to the inauguration of the Compressed Bio Gas Plant in Budaun, Puri said that in the last seven years, under the leadership of Chief Minister Yogi Adityanath, the state has shed the label 'BIMARU' (sick) state and has done excellent work in every sector. "Today a new compressed biogas plant is going to be inaugurated in Budaun and the foundation stone of new compressed biogas plants will also be laid in eight other districts of the state," he said. Puri said that the process of land selection for setting up 37 plants is complete. According to a statement by the UP government, Puri said that the Budaun plant, developed on 50 acres with an investment of about Rs 135 crore, will produce about 14 tonne of compressed biogas every day, and will be instrumental in stubble management. Earlier, ...

Indian economy has transformed in last one decade: Union ministers at WEF

Asserting that the Indian economy has undergone a significant transformation in the last one decade, three union ministers on Thursday said the country's economic growth now is not only high but also inclusive. Speaking at a session on 'Can India seize its moment' at the World Economic Forum Annual Meeting 2024, union minister Hardeep Singh Puri said India has already seized the moment. "I say so because of the GDP growth we are clocking and the expectations from all quarters for a continued growth momentum," he said. Speaking in the same session, his Cabinet colleague Ashwini Vaishnaw said the last decade has seen a significant transformation in the Indian economy. "Major investments have happened in physical and digital infrastructure. That has had a huge impact on manufacturing and overall economic activity," he said. Smriti Irani, Minister for Women and Child Development, said she agrees with minister Puri that India has already seized the moment. She said India used to have

India can become $5 trn economy much before 2028: Hardeep Singh Puri

Union minister Hardeep Singh Puri on Tuesday asserted that India can become a five trillion dollar economy much before 2028 and said the country's energy transition needs to be done in an orderly manner to safeguard the interests of its large population. Puri, the minister for petroleum and natural gas as well as housing and urban affairs, said India is aware of its commitments towards sustainability goals and will meet all the targets in time while meeting the requirements of a growing economy. He was speaking at a CII-EY breakfast session on 'accelerating India's energy transition towards sustainable economic growth' on the sidelines of the World Economic Forum Annual Meeting 2024. "I don't think we need to wait till 2028 to become a five trillion dollar economy, and if you look at what is happening, it should happen much before 2028," he said while listing various macroeconomic parameters. "I also think that the transition has to be orderly because transition by nature has to ha

India has no problem in making payment for Russian oil: Hardeep Puri

Puri, who is in charge of the Petroleum and Natural Gas Ministry, said India enjoys a buyers' position and foreign oil suppliers are making offers to its companies

Govt launches 9th round of oil, gas blocks for bidding, ONGC wins big

In the ninth bid round, 28 blocks, with an area of approximately 136,000 square kilometres, are on offer for bidding

ONGC wins seven, Reliance-BP one oil, gas blocks in latest bid round

State-owned Oil and Natural Gas Corporation (ONGC) won seven areas for exploration of oil and gas while a consortium of Reliance Industries Ltd and BP Plc walked away with one in the latest bid round. Oil Minister Hardeep Singh Puri said 10 blocks for exploration and production of oil and gas were offered in the eighth round of Open Acreage Licensing Policy (OALP-VIII). Contracts for the 10 blocks were signed on Wednesday morning, he said. Of the 10 blocks offered, ONGC won seven while Reliance-BP, Oil India Ltd and Sun Petrochemicals Pvt Ltd got one area each. Parallelly, three coal-bed methane (CBM) blocks too were awarded and the ninth round of OALP was launched for bidding. "Estimated investments in awarded blocks for a committed exploration work programme is to the tune of USD 233 million," an official note said. India had offered 10 blocks for bidding in the eighth round of the OALP in July 2022. After extending the bid deadline a few times, the round closed in July 2023.

India aims to become developed nation by 2047: Hardeep Singh Puri

India is on the cusp of making history, as it looks forward to becoming a developed nation by 2047, Union minister Hardeep Singh Puri said on Tuesday. Puri made the remarks after offering prayers at the Patna Sahib Gurudwara on the occasion of Veer Bal Diwas', which is being observed to commemorate the martyrdom of two sons of Guru Gobind Singh. "We are on the cusp of making history. India looks forward to becoming a developed nation by 2047. At such a point of time, commemoration of the martyrdom (shahadat') is of immense value, he said. Puri, who is the only Sikh in the Narendra Modi cabinet, expressed delight upon visiting the historical site where the 10th Sikh Guru was born. "I consider myself privileged to be here on this occasion. Prime Minister Narendra Modi had last year announced that December 26 will be observed as Veer Bal Diwas, said the Union minister, who was accompanied by senior leaders of the BJP in Bihar. Puri, who holds the crucial portfolios of Housing & Urban

EAM Jaishankar visits Kuwaiti mission, condoles demise of Emir Nawaf

India will always remember the contributions of Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah in strengthening India-Kuwait ties, External Affairs Minister S Jaishankar said on Monday on the demise of the Kuwaiti ruler. Jaishankar visited the Kuwaiti embassy in Delhi this morning and paid his respects to the departed leader. "Visited the Embassy of Kuwait in Delhi today morning to express condolences and pay my respects on the passing away of His Highness Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, the Amir of the State of Kuwait," he said on X. "The Government and people of India will always remember his notable contributions to the strengthening of our ties," he said. Emir Jaber Al-Sabah, who played a key role in boosting India-Kuwait relations, died at the age of 86 on Saturday. India observed a "state mourning" on Sunday as a mark of respect for the departed leader. Petroleum Minister Hardeep Singh Puri on Sunday travelled to Kuwait as Prime Minister Narendra Modi's special envoy

Union minister Puri reaches Kuwait to pay condolences over demise of Emir

Petroleum Minister Hardeep Singh Puri is travelling to Kuwait on Sunday as Prime Minister Narendra Modi's special envoy to pay condolences on the demise of Emir Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah on behalf of the government and people of India. Puri will also deliver personal letters of condolences from President Droupadi Murmu and Prime Minister Modi to Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah, the new Emir of Kuwait, the Ministry of External Affairs (MEA) said on Sunday. Emir Jaber Al-Sabah, who played a key role in boosting India-Kuwait relations, died at the age of 86 on Saturday. "India stands united in mourning with the leadership and the people of Kuwait," the MEA said, adding the large Indian expatriate community in that country will miss his "presence and compassionate care". New Delhi has already declared a "state mourning" on Sunday as a mark of respect for the departed leader. In the demise of Sheikh Nawaf Al-Ahmad Al-Jaber Al-Sabah, Kuwait has lost a visionary le

Petroleum Ministry has given nod to import Venezuelan crude: Officials

Puri says India open to importing from any country not under sanctions