Page 49 - Policy Economic Report - Jan 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

basins for exploration, successive Open Acreage Licensing Policy (OALP) and Discovered Small Fields (DSF)
bidding rounds, along with continued policy reforms to attract global investors.

He added that India’s rapid expansion of LPG coverage, clean cooking access and diversified energy mix
reflect the country’s commitment to inclusive growth and equitable energy access.

Addressing the gathering, Hon’ble Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology
of the United Arab Emirates and Managing Director and Group CEO of ADNOC, underlined that global
energy demand is entering a phase of transformation at scale, which is driven by emerging markets,
digitalisation and the integration of diverse energy systems. He noted that India sits at the heart of these
megatrends and will be a decisive driver of global energy demand in the decades ahead.

Dr. Al Jaber stressed that the greatest risk facing the global energy system is underinvestment, and called
for balanced investment across all forms of energy to ensure security, affordability and sustainability.
Highlighting the depth of the UAE–India energy partnership, he noted ADNOC’s role as a reliable supplier
of crude, LNG and LPG to India while reaffirming UAE’s commitment to long-term, trust-based
partnerships that deliver certainty, resilience and shared value in a rapidly evolving global energy
landscape.

Welcoming delegates, the Hon’ble Chief Minister of Goa, Dr. Pramod Sawant, said that India Energy Week
2026 has emerged as a global platform that converts ideas into action. As the host state, Goa showcased
its vision for sustainable development, including a long-term roadmap to achieve 100 per cent renewable
energy by 2050, the Chief Minister added. He also highlighted the importance of balancing the green
economy with the blue economy, ensuring environmental sustainability alongside responsible use of
ocean resources.

Across the inaugural addresses, India Energy Week 2026 underscored India’s positioning as a responsible
global energy leader offering practical, scalable and inclusive solutions. Strong emphasis was laid on
international cooperation, innovation and investment mobilisation as critical enablers for accelerating the
global energy transition.

IEW 2026: Ministerial Panel Underscores Energy Security, Investment Continuity and Global
Cooperation Amid Geopolitical Uncertainty

A high-level Ministerial Panel on the first day of India Energy Week 2026 brought together senior
policymakers to deliberate on “Charting a Course through Uncertainty: Securing Affordable, Accessible
and Sustainable Energy in a Turbulent World.” The discussion highlighted the need for pragmatic policies,
sustained investment and stronger international partnerships to navigate global energy volatility.

Participating in the panel were Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas,
Government of India, HE Tim Hodgson, Minister of Energy and Natural Resources, Canada, and HE Jassim
Al Shirawi, Secretary General of the International Energy Forum (IEF).

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