Navigating the Energy Transition: Balancing Conventional and Clean Sources

Oil Minister Hardeep Singh Puri emphasized the continued importance of conventional energy sources despite the rapid growth of renewable energy. He highlighted India’s strategic approach to balancing energy transition, security, and resilience, stressing the need for both conventional and renewable sources to meet global energy demands, particularly in developing regions.

At the India Energy Week 2026, Oil Minister Hardeep Singh Puri stressed the indispensable role of conventional energy amidst a global push towards renewables. He revealed that halting investment in oil and gas production could lead to an 8% annual decline in global oil output, equivalent to the joint production of Brazil and Norway.

Puri highlighted that while renewable energy accounts for nearly a third of global electricity generation, the energy transition cannot rely on replacement alone. Adding new energy sources alongside existing ones is vital for meeting rising global demand and maintaining system resilience. Developing regions, including emerging Asian economies, contribute significantly to this growing energy demand.

The Minister also outlined India's proactive measures in energy policy, including regulatory reforms like the Oilfields Amendment Act, 2025, and advancing bioenergy initiatives. With India's energy demand projected to rise sharply by 2050, these moves aim to foster growth, improve market conditions, and sustain low fuel prices amid global volatility.

(With inputs from agencies.)