About 20 top executives from major energy companies, such as ExxonMobil, BP, Qatar Energy, and Total Energies met with PM Modi to talk about the state of the energy industry and possible investment opportunities. PM Modi met with over 20 top executives from major energy companies, such as BP, Total Energies, Qatar Energy, and ExxonMobil, to talk about the state of the industry now and to look into future investment opportunities.
PM Modi presented his vision for India
during the third term of his government to the Rajya Sabha, highlighting important initiatives including developing semiconductors, the electric market, and the bullet train project.PM Modi emphasized historical effects, pointing out how colonial legacies have affected the Congress party in areas like budgetary procedures and legislative frameworks.
The Prime Minister stressed the importance of Modi 3.0
and its role in strengthening the foundation for India’s progress towards becoming a developed nation. In addition, Prime Minister Modi mentioned the recent start of the exploratory licensing phase, which is meant to draw in foreign investment to India’s oil and gas industry. During the India Energy Week event, he highlighted the country’s profitable energy industry prospects and presented his observations from his conversations with leading CEOs.
According to sources,
Modi spoke about changes the government wanted to make to the oil and gas industry. One major change was that the bidding process for oil and gas field allocations would now prioritize exploration over revenue-based bids. Currently importing 85% of its energy needs, India is the third-largest energy consumer in the world. To lessen reliance on imports, the government does, however, intend to increase domestic manufacturing. Senior representatives from Reliance Industries Limited and Anil Agarwal, the chairman of Vedanta, also attended the meeting.
Aggarwal told PTI that
all segments of the oil and gas business were present, however he would not provide details of the discussion. The CEOs of each company spoke about their thoughts during the event. “I emphasized that India stands as the premier global investment destination,” said the Vedanta Chairman. Due to recent changes, India’s attraction has increased, and major foreign companies should think about funding exploration and production projects there.”
PM Modi has used
Indian Energy Week (IEW), formerly called “Ceraweek,” brings CEOs and experts from the oil and gas industry together for brainstorming sessions. He has led more than six of these sessions. Regarding PM Modi’s “Mission 370,” which area will be more difficult for the BJP to complete—the North or the South? Sharad Pawar closely monitors the activities of his nephew Ajit… Where did the seasoned leader fail to notice? What other options are there?
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