Page 44 - Policy Economic Report - July 2025

July 2025 POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Synergize,” the conclave served as a dynamic platform for dialogue, technical exchange, and strategic
visioning around India’s energy roadmap.

A series of major announcements and launches marked the event. Shri Puri unveiled the revised PNG
Rules and MRSC, aimed at enhancing policy clarity, boosting investor confidence, and furthering Ease of
Doing Business. He also announced the commencement of Hydrocarbon Resource Assessment Studies
using globally benchmarked methodologies to better estimate India’s resource base. Key MoUs were
exchanged during the conclave, including one between bp and ONGC for stratigraphic well studies to
deepen understanding of India’s subsurface geology, and another between DGH and NIC to establish a
cloud-based National Data Repository for transparent and centralised upstream data management. The
Minister also released the India Hydrocarbon Outlook 2024–25, the 32nd edition of DGH’s flagship report,
which provides data-driven insights for shaping future E\&P strategies and investment decisions.

As part of the conclave’s innovation showcase, Shri Puri visited the Exhibition Gallery and Innovation
Center, which featured over 50 technical posters and more than 15 innovative solutions presented by
E\&P operators, start-ups, and academic institutions. He interacted with several participants and
acknowledged the importance of continuous technological innovation in shaping the future of India’s
upstream industry.

Inter-Ministerial Round Table with Partner States Held on Sidelines of Urja Varta 2025

Reflecting the true spirit of cooperative federalism under the visionary leadership of PM Modi, an Inter-
Ministerial Round Table was organised on the sidelines of Urja Varta 2025 to explore energy sector
opportunities across states. Ministers and senior officials from 22 States and Union Territories
participated in the deliberations.

Speaking at the Round Table, Union Minister of Petroleum and Natural Gas Minister Puri underlined the
central role of states in driving India’s energy transformation. “Our states are the core of India’s energy
transformation and transition,” he said. Highlighting the rising energy demand and the vast scope for
investment, the Minister noted, “In the last five years, India has contributed 16% to the global increase in
oil demand and is expected to account for nearly 25% of the incremental global energy demand through
2045. Our demand is not only large—it is structured, predictable, and responsible.”

Shri Puri further informed that India has invested over ?4 lakh crore in energy infrastructure over the past
decade. “These investments have not only strengthened national capacity but also created tangible value
at the state level,” he said. With an envisaged investment of ?30–35 lakh crore over the next 10 years, the
coming decade will be pivotal for energy infrastructure development across the country.

Between 2025 and 2035, India is expected to witness significant investments across the entire
hydrocarbons value chain. “These investments will require leadership and proactive participation from
states. While the Centre remains committed to supporting these efforts through funding, policy, and
coordination, we must collectively address recurring challenges,” Shri Puri emphasised.

Urja Varta 2025 reaffirmed India’s steadfast commitment to building a robust, transparent, and investor-
friendly upstream energy ecosystem. Through sustained reforms, international collaboration, advanced

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