India's Oil and Gas PSUs Evolving into Future-Ready Energy Titans

Union Minister Hardeep Singh Puri reveals how India's oil and gas PSUs are transforming into technology-focused, profitable entities, driven by Prime Minister Modi's vision. Highlighting HPCL's remarkable financial growth and efforts towards renewable energy, Puri discusses the country's balanced approach to energy transition amid a changing global landscape.

In a firm endorsement of India's energy sector vigor, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri emphasized the transformation of the country's oil and gas public sector undertakings (PSUs). On Thursday, he remarked that these entities are steadily metamorphosing into technology-centric, profitable energy institutions under Prime Minister Narendra Modi's visionary guidance.

The minister highlighted that, despite a shifting global energy environment, robust economic performance and long-term energy transition can seamlessly coalesce. He pointed to Hindustan Petroleum Corporation Limited (HPCL) as a leading example, noting its 206 percent jump in Profit After Tax over nine months, reaching Rs 12,274 crore. Moreover, HPCL's quarterly profit escalated by 35 percent, underlining improved operational efficacy and financial robustness.

Puri also touched on the significance of renewable energy integration, citing solarisation of retail outlets and CNG infrastructure expansion as testament to the sector's forward momentum. Efforts like sustainable aviation fuel trials and the Rajasthan Refinery project's rapid advancement further highlight India's commitment to balancing innovation with responsibility, ensuring energy security while leading in emerging cleaner technologies.