India's Energy Surge: A Call for EU Partnerships Amid Unprecedented Growth

IOCL Chairman AS Sahney highlights India's energy sector growth, driven by economic expansion and rising demand, urging global partnerships, especially with the EU. He underscores opportunities in exploration, green energy, and refining, while emphasizing the mutual benefits of technological exchanges between India and Europe.

In a significant development, AS Sahney, Chairman of the Indian Oil Corporation Limited (IOCL), declared that India's energy sector is poised for unprecedented growth. Speaking on Thursday, Sahney emphasized that this surge is fueled by strong economic expansion and escalating energy demand, rendering it an opportune moment for global partnerships, particularly with the European Union.

Addressing the media at the India Energy Week, Sahney underscored India's increasing energy needs. He pointed out that the rising demand naturally paves the way for heightened investments across the energy value chain. India, according to Sahney, offers tremendous opportunities for global investors in areas like exploration, refining, petrochemicals, renewables, green hydrogen, and green ammonia.

Drawing comparisons with Europe, Sahney noted that both regions are major energy importers committed to cleaner, greener sources. He highlighted that while India's growth and energy requirements outpace Europe's, the latter's advancements in green technologies present substantial collaboration possibilities. On crude oil procurement, Sahney clarified IOCL's commercial approach devoid of geographic bias, reinforcing the alignment of Europe's tech strengths with India's energy needs.

(With inputs from agencies.)