PM to communicate with CEOs of leading global oil and gas firms Monday

The goal behind the conference is to deliver an international platform to comprehend best-practices, go over reforms, and notify methods for speeding up financial investments into the Indian oil & gas worth chain

Narendra Modi | oil and gas sector | oil and gas

Prime Minister Narendra Modi will connect with CEOs of leading worldwide oil and gas business on Monday at an annual event arranged by the NITI Aayog and the Ministry of Petroleum and Natural Gas.

The Prime Minister’s Office (PMO) stated that this is the fifth such event organised by the NITI Aayog and Ministry of Petroleum and Gas, and around 45 CEOs of major oil and gas business will participate in the roundtable this year.

The goal behind the conference is to provide an international platform to comprehend best-practices, go over reforms, and inform methods for speeding up financial investments into the Indian oil and gas value chain, the PMO stated in a declaration.

The yearly interaction has actually gradually become one of the most important events of not just intellectual dispute however also of executive action, it stated.

The event also grows in stature with the rise of India, the world’s third-largest energy consumer, which is likely to see investment of over $300 billion by 2030 in the oil and gas sector to fulfill the increasing need, the PMO stated.

The prime minister will engage with the CEOs at 5.30 pm IST on October 26 by means of video conference, the statement stated.

India is an essential player in the global oil and gas sector, being the 3rd largest consumer of crude oil and the fourth largest LNG importer, the PMO said.

Realising the requirement for India to finish from a passive consumer to an active and singing stake-holder in the international oil and gas worth chain, NITI Aayog initiated the first roundtable of international oil and gas CEOs with the prime minister in 2016.

The development of the event appeared as around 45-50 international CEOs and key stakeholders who form the international oil and gas sector assembled every subsequent year to interact and go over the problems and opportunities with the prime minister, the PMO said.

The effect of the yearly international CEOs interaction can be seen in the gravity of conversation, quality of suggestions and the severity with which they are acted upon, it said.

Minister of Petroleum and Natural Gas and Minister of Steel Dharmendra Pradhan will make the opening remarks at the occasion, followed by a detailed discussion offering an introduction of the oil and gas sector, and describing the ambition and chances in the sector in India.

This will be followed by the interaction session with global CEOs and specialists.

Secret global oil and gas stakeholders like Sultan Ahmed Al Jaber, CEO Abu Dhabi National Oil Company (ADNOC) and Minister of Industry and Advanced Technology, UAE; Saad Sherida al-Kaabi, Minister of State for Energy Affairs of Qatar, Deputy Chairman, President & CEO, Qatar Petroleum; Mohammad Sanusi Barkindo, Secretary General, OPEC, Austria, will lead the session with their inputs on the oil and gas sector.

Igor Sechin, Chairman & CEO, Rosneft, Russia; Bernard Looney, CEO, BP Ltd.; Patrick Pouyanne, Chairman & CEO, Total SA France; Anil Agarwal, Chairman of Vedanta Resources Limited; Mukesh Ambani, Chairman and Handling Director, RIL; Fatih Birol, Executive Director, International Energy Company, France; Joseph Mc Monigle, Secretary General, International Energy Online Forum, Saudi Arabia; and Yury Sentyurin Secretary-General, the Gas Exporting Countries Online forum will also share their inputs with the PM.

CEOs and professionals of significant oil and gas companies like Lyondell Basell, Tellurian, Schlumberger, Baker Hughes, JERA, Emerson and X-Coal, Indian oil and gas business, will also provide their perspective.

Prior to this, the prime minister will inaugurate the India Energy Forum by CERAWeek, now in its 4th year. The online forum is hosted by HIS Markit, a world leader in crucial info, analytics and options.

The event will convene a global group of speakers and a community of over a thousand delegates from India and over 30 nations, including from local energy companies, energy-related industries, organizations and federal governments.

The inaugural speakers include Saudi’s Minister of Energy Abdulaziz bin Salman AI Saud, US Secretary of Energy Dan Brouillette and Vice Chairman, HIS Markit, Chairman, CERAWeek, Daniel Yergin.

Key subjects to be checked out throughout India Energy Online forum consist of impact of the pandemic on India’s future energy need; securing materials for India’s economic development; what does energy shift and the climate program indicate for India; and natural gas in India’s energy mix.

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