Bharatiya Janata Party (BJP)’s Post

Overseas assets of Indian energy sector PSUs amounting to about US$ 40.6 billion reviewed, reaffirming India's commitment towards sustainable growth! Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, reviewed the overseas assets of Indian energy sector PSUs, which have investments in 45 assets across 21 countries, amounting to about US$ 40.6 billion. Key players include ONGC Videsh Ltd (OVL), Indian Oil Corporation Ltd (IOCL), Oil India Ltd (OIL), Bharat PetroResources Ltd (BPRL), GAIL India, and Prize Petroleum Corporation Ltd (PPCL). This strategic review aims to ensure sustainable growth and energy security for India under PM Narendra Modi's leadership by assessing performance and exploring new opportunities. Global Presence: Indian PSUs have significant investments globally, enhancing energy security. Key Players: OVL, IOCL, OIL, BPRL, GAIL, and PPCL are leading the overseas expansion. Strategic Efforts: Focus on diversifying sources and establishing a global footprint. This review underscores India's commitment to securing energy resources and promoting sustainable growth. #EnergySecurity #IndianPSUs #GlobalInvestments #PMModi #BJP4India #Modi2024 #ViksitBharat2047

Not only #renewables and #biofuels, India is making bold moves even in the #hydrocarbon sector with the bold move of #deepwater oil and gas production; many more mega development projects to be unleashed in the next 5 years of the #Modi government.

BPCL and ONGC Exploring jointly to new set up Bharat Petroleum Corp Ltd. Share Price - ₹357 Market Cap - ₹772.54bn Oil and Natural Gas Corp share Price - ₹314.90 Market Cap - ₹3.96Tr Nifty50 - 25,198.70 1. India Refiner (BPCL) and Explorer (ONGC) are jointly exploring setting up new Refinery in Uttar Pradesh. 2. ONGC is looking at 9 million tonne project that could cost ₹700bn. 3. ONGC is in talks with BPCL to set up unit in Prayagraj. As of now the talks are at beginning level but as per my opinion they are definitely going take the discussions to next level. India is one of the world's fastest growing major economies which leads to surging Crude and Petrochemical Consumptions. In conclusion the news is positive by finalising this deal ONGC and BPCL both get benefitted for sure and we can consider the very positive impact on the Inflows of the Companies. But they also need to think about the emerging Renewable Energy Sector as it impact the ONGC and BPCL in long Term. #BPCL #ONGC #UPDATES

India Offers a Discovered CBM Block in Raniganj Coalfield, WB 1. Coal Bed Methane (CBM), a clean energy has mostly remained untapped. 2. Though one out of every four fields explored in India has turned out to be commercially viable (a very good success ratio as per Oil Industry standard), CBM Industry has remained unnoticed. 3. It did not attract investment and CBM has remained trapped in Coal Mines. 4. Exploring, producing & utilizing this natural gas, will reduce greenhouse gas emissions helping to achieve a sustainable & eco-friendly future. 5. At present, 5 fields are in production, 3 in development and 4 in exploration phase. 6. Bid for Raniganj Block with an area of 16 square km in West Bengal has been invited through International Competitive Bidding (ICB) by DGH, the technical arm of MOPNG. Bidding closes on 16 August 2024. 7. However, unlike in CBM Bid Rounds in last 3 years, the bidder is required to have at least one year experience of operatorship in CBM development and / or commercial production. Even oil and gas companies will not qualify if they want to diversify into CBM. This barrier needs to be addressed to have a wider participation. 8. Similarly, in last two rounds, the Investors were not required to share the revenue till the time there is a windfall profit from CBM blocks in Category III Basins. Though the present block is also in Category-III Basin, this incentive seems to have been withdrawn. It needs to be relooked and restored to attract more capital in CBM Industry. 9. CBM outlook is positive. The industry leaders believe the share of CBM gas in India’s natural gas basket may go up from the present three per cent to 10 per cent in the next five years. #naturalgas #cleanenergy #cbm #india #sustainable #environment #investment #dghindia #energy #oilandgas #gas #dghindia #coalbedmethane #ongc #vedanta #cairn #essar #reliance #relianceindustries #iitism #iitbombay #gsi #mopng #exploration #oalp #oilfieldservices #investindia #hydrocarbons #naturalgasindustry #coalindia #trustworthyadvisors

Oil in India! Yes! Hardeep Singh Puri, India's Union Minister for Petroleum and Natural Gas, has just unveiled the initiation of the first-ever oil extraction in the Bay of Bengal, 30 kilometers off the captivating coast of Kakinada in the Krishna Godavari basin. State-owned ONGC is making waves with the successful commencement of 'First Oil flow to FPSO' from Krishna Godavari Deep-Water Block 98/2. 🚀🌊 This marks a game-changing achievement, propelling India towards self-reliance and economic prosperity.  Phase 3 is already in full swing, paving the way for peak oil and gas production by June 2024. Brace yourselves for an impressive boost in ONGC’s total oil and gas production by 11% and 15%, respectively! As the world's third-largest oil importer and consumer, this development signifies a shift in our energy dynamics. No more reliance solely on global markets;  India is charting its course towards energy independence with this indigenous resource. Anticipated is a daily production of 45,000 barrels, contributing significantly to an energy 'Aatmanirbhar Bharat'.  This project is set to add seven percent to national oil production and seven percent to national natural gas production. Let's celebrate this milestone as India takes a giant leap towards rewriting its energy narrative! What do you think of this? Will this help the economy?  #oilrevolution #energyindependence #aatmanirbharbharat #oilgasindustry #ongc

In a significant development, India Has commenced crude oil production from the #KrishnaGodavari Deep-Water Block 98/2 in the Bay of Bengal.Announced by Union Petroleum and Natural Gas Minister Hardeep Singh Puri , this marks a crucial step towards meeting 10% of the nation's oil demand by July 2024. The Oil and Natural Gas Corporation Ltd (ONGC) spearheaded this project in the Krishna-Godavari basin, with operations officially initiated after a six-year journey since the project's inception in 2016. Despite encountering delays and challenges, including complex geological conditions,adverse weather, and global disruptions caused by the COVID-19 pandemic, the KG-DWN-98/2 project is vital for addressing the decline in overall oil production fromONGC's aging fields. India's dependence on imported oil and gas, constituting over 85% of its needs, underscores the strategic importance of such domestic initiatives. The KG-DWN-98/2block, located adjacent to Reliance Industries' KG-D6 block,aims to contribute significantly to India's energy requirements. Situated approximately 35 km off the Andhra Pradesh Coast, the offshore project employs a cluster development strategy, with the second cluster being the first to commence production. This milestone underscores India's Commitment to reducing reliance on external sources for energy and aligns with its ambitious goals to strengthen domestic energy production. #KakinadaOilDiscovery #ONGC #KrishnaGodavariBasin #CrudeOilIndia #EnergyMilestone

Impressive market capitalization by India's top 5 PSU companies, which is a testament to their strong foundation of trust and reliability. Here are the top 5: 1 - Indian Oil Corporation Ltd - Pioneer in the oil refining and marketing sector, playing a crucial role in meeting India's energy needs. 2 - Coal India Ltd - Leading the global coal production market and fueling India's energy landscape. 3 - Oil and Natural Gas Corporation Ltd (ONGC) – Stands out in the energy sector with its vast oil and gas networks, being at the forefront of energy production. 4 - Power Grid Corporation of India Ltd - Key in electricity transmission, maintaining power flow. 5 - Bharat Petroleum Corporation Ltd - A major player in refining and marketing petroleum products. These giants are not only the backbone of India's economy but also play important roles on the global stage. Their strong performance showcases the strength and potential of India's public sector. Source: smallcase #PSU #Economy #Investing #Finance #Energy #IOCL #COALINDIA #ONGC #POWERGRID #BPCL #DimaagWalaInvestor #Shoonya #Finvasia

In a major step towards a sustainable future, #India's #Energy #Maharatna #ONGC has unveiled its bold "Decarbonization Roadmap," targeting #NetZero Operational Emissions (Scope 1 & Scope 2) by 2038. Supported by #ClimateAction , an initiative backed by over 600 global investors, this roadmap is a crucial leap in aligning ONGC with India’s energy ambitions and global climate goals. With an investment of $24 billion, we’ve strengthened investor confidence, fostering ongoing engagement and enhanced climate transparency. 🌿 #Decarbonization for a Sustainable Future: This comprehensive plan highlights key actions to lower #carbonemissions, such as: - Ending routine flaring - Cutting fugitive #methane emissions - Deploying Carbon Capture Utilization & Storage (CCUS) - Using Battery Energy Storage Systems - Shifting to #electricvehicles (#EVs) - Scaling up #renewableenergy solutions and #greenhydrogen production Read here: https://lnkd.in/dpkea5Wy Ministry of Petroleum and Natural Gas Govt of India Hardeep Singh Puri #SureshGopi #YouAreEnergy #EnergyNowAndNext

2014-2024 Strategy & Saga of Development in India vs. Petroleum Sector & Oil PSUs Let us hope that the new Director (Strategy) will be able to put an end to the fake investments & technoscientific foul play leading to dummy drilling in the coming days. Current plight of ONGC as everyone knows - 1. UNDISCOVERED PETROLEUM RE-ASSESSMENT 2017, inflated the In-Place Hydrocarbon resources by ~50%. 2. 27 Onland Rigs purchased from EB Donor Rank 2 MEIL by nomination, flouting the tender proceedings, subsequent to GIGO UNDISCOVERED PETROLEUM 2017. 3. For some reason yet to be known, Government nominee Director on the Board of ONGC and AS Petroleum was given VRS despite his long experience under MoPNG. 4. Prime Minister on 27.03.2015 had given the target of 10% important reduction to be achieved in 7 years, by FY22. But the strategy and action plan flopped miserably by FY 22. 5. Now crude recovery is on the decline. 6. Reserves and RRR are under question marks. 7. No. of Wells last year was 550 but the Dry Holes Statistics of ONGC has not met with any scientific analysis as to stop the dummy drilling. 8. Drilling and Production data, Projections by Exploration & Production Profile by IRS during the last two decades will be eye opening for any Director Strategy interested to do some good for ONGC and our country. Let us wish him all success!

🌍 Proud to lead the Decarbonization story for India's top #Oil&Gas PSU – #ONGC! 🚀 As we navigate through the challenges of #EnergySecurity and #Sustainability, the role of Oil & Gas companies has never been more critical. We are not just ensuring the energy needs of today but are paving the way for a greener, more resilient future. 🌱💡 The #EnergyTransition driven by this sector will significantly impact our nation's #economy by reducing Oil & Gas import bills, creating employment opportunities, and fostering the growth of new energy businesses. 💼⚡ Together, we are shaping a sustainable future for India! Quick actions for O&G companies would be around: 🌱Flaring(short term) 🌱Methane Emissions(short term) 🌱RE(short term) 🌱Hydrogen(short to mid term) 🌱CCUS (Mid to long term - Game Changer) #Decarbonization #Sustainability #EnergyFuture #Innovation #GreenEconomy #CleanEnergy Gaurav Moda, Chaitanya Kalia, Kapil Bansal, Rajesh Rawat, Jill S.