Modi seeks responsible pricing of crude oil in the interest of producers and consumers

Modi said this at the inaugural session of the Petrotech– 2019, India’s flagship hydrocarbon conference.

New Delhi: Prime Minister Narendra Modi on Monday said that the world needs to move to responsible pricing on crude prices, which balances the interests of both the producers and consumers.

“For too long, the world has seen crude prices on a roller-coaster. We also need to move towards transparent and flexible markets for both oil and gas. Only then can we serve the energy needs of humanity in an optimal manner,” PM Modi said while addressing the inaugural session of the Petrotech– 2019, India’s flagship hydrocarbon conference at India Expo Centre, Greater Noida.

Modi also said said that energy justice a top priority for India and also a key objective for himself.

“Energy justice is also a key objective for me and a top priority for India. Towards this end, we have developed and implemented many policies. The results of these efforts are now evident. Electricity has reached all our rural areas. LPG connections have been given to over 64 million house-holds in just under three years under the Ujjwala Scheme. A ‘Blue Flame Revolution’ is under-way. LPG coverage has reached more than 90% percent, from 55 percent five years ago,” Modi said.

The 13th International Oil and Gas Conference Exhibition is being organised by the Ministry of Petroleum & Natural Gas. The three-day mega  event from 10 to 12 February 2019 will see participation of over 100 eminent speakers and 7000 delegates from around 70 countries.

Along with the Conference, the event will have a concurrent exhibition spread over 20,000 square meters at India Expo Mart, Greater Noida. The Petrotech-2019 Exhibition will have over 13 country pavilions and around 750 exhibitors from over 40 countries, with exclusive areas on the Make in India and Renewable Energy theme.