OIL & GAS

India to double refining capacity in next five years: PM Modi at PDPU convocation

India is working to double its oil refining capacityies in the next five years, announced Prime Minister Narendra Modi at the eighth convocation of Pandit Deendayal Petroleum University (PDPU) on Saturday.

Addressing the graduating students of the uUniversity, the Prime Minister said stated that the coming decade will see massive investments flowing into the oil and gas sector creating ample opportunities for energy professionals. A tTotal of 2,608 students, including 467 PhDs, received their degree certificates at the con 8th Convocation. At the first convocation, which is against the 132 students had received degree certificatesin the first convocation.

“Friends, as you step into the industry in this Covid-19 times, there are infinite possibilities for employment. In this decade, just oil & gas sector will see lakhs of crores of investments. We are working to double our oil refining capacities in the next five years. In this decade, our effort is to increase four times the share of natural gas in our overall energy requirements,” Modi said in his cConvocation address delivered via video conferencing.

Modi also stated that the government’s policy focus will remain on strengthening the start-up ecosystem in the area of energy security for the country. “India has set a target to reduce carbon footprint by 30-35 per cent%. Also, work is on to develop start-ups involved in to ensuringe the country’s energy security.

Source
the hindu businessline
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