At the Confederation of Indian Industry (CII) Annual Business Summit 2025, Minister of Petroleum and Natural Gas Hardeep Singh Puri reaffirmed India’s commitment to the energy transition, highlighting developments in oil, natural gas, and renewable energy.
Puri pointed to the rise of energy startups, breakthrough discoveries, and cutting-edge technological advancements, describing them as promising “green shoots” in India’s dynamic energy sector. He also underlined the country’s ambitious green hydrogen strategy, which aims to reduce costs to $1 per kg within the next decade, and urged auto manufacturers and industry leaders to collaborate in accelerating clean energy innovation.
He further highlighted India’s rapid progress in biofuel adoption, noting that the country had exceeded its 2026 ethanol blending target ahead of schedule, with blending levels rising from 1.4% to 20%.
Describing India’s oil marketing companies as “highly successful public sector giants,” Puri reported profits of ₹1.29 lakh crore last year. He added that if ₹40,000 crore in pending dues were recovered, this year’s profits could match previous records.
Reflecting on the period between 2006 and 2016, Puri said flawed agreements had led to disputes. Since then, India has shifted from production-sharing to revenue-sharing models, reducing litigation and improving efficiency.
Proposing a change in perspective, Puri suggested renaming the Ministry of Petroleum and Natural Gas to the Ministry of Clean Energy or Energy Transition, to reinforce India’s commitment to biofuels, green hydrogen, and sustainability.
Despite the progress, natural gas still accounts for only 6% of India’s energy mix—well below the 15% target. “We’re intensifying efforts, but change must happen faster,” he said, underscoring India’s role in driving 25% of global energy demand growth.
India’s oil consumption continues to rise, with daily imports increasing from 5 million barrels to 5.6 million barrels since Puri took office. The oil sector alone contributes nearly 20% of the country’s total revenue, underscoring its critical economic importance.
On exploration and production (E&P), Puri highlighted the Open Acreage Licensing Policy, aimed at unlocking untapped energy reserves and strengthening global partnerships.
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