Prime Minister to meet global oil and gas CEOs next week

Prime Minister Narendra Modi will meet the CEOs of top Indian and foreign oil and gas companies next week, likely to discuss topics such as energy supplies and attracting investment amid geopolitical conflicts.

Petroleum Minister Hardeep Singh Puri said the meeting will be held during the second India Energy Week in Goa from February 6 to 9.

In recent years, the Prime Minister has used the annual oil and gas industry event – formerly CERA India Week and now India Energy Week – to meet with CEOs of major oil and gas companies to understand the emerging energy landscape and advocate for increased support for investment in the country’s energy sector.

This year’s meeting comes against the backdrop of Russia’s ongoing war with Ukraine and a new Red Sea crisis, with one of the world’s busiest sea lanes threatened by attacks by Houthi militants.

“Today, India presents a picture of confidence, positive growth, and solutions in many sectors in energy. IEW is a great opportunity to showcase all these relevant developments in the energy sector and provide a platform for further development and growth in the energy sector .”

As in previous editions, Modi will meet CEOs of oil and gas companies on the sidelines of the event. In addition, an India-US investment roundtable will be held.

Asked about the Red Sea crisis, he said it had not disrupted oil supplies to India so far but had led to higher freight rates as ships were diverted to avoid conflict areas. He said the conflict was a concern but not a concern. Not a cause for concern for India so far.

“No matter what difficulties we faced, we not only responded to every development and challenge that came our way, but I think we responded to it very well,” he said.

The minister said India Energy Week 2024 is expected to have 17 energy ministers from different countries, over 35,000 attendees and over 900 exhibitors.

“I am very happy to tell you that this time we will set up 6 national pavilions specifically, namely Canada, Germany, the Netherlands, Russia, the United Kingdom and the United States.” During IEW 2024, a pavilion of more than 300 exhibitors will be organized ’s special Made in India Pavilion showcases innovative solutions from Indian MSMEs that are leading in the energy sector.

He said the large number of domestic and international players provides them with an unparalleled platform to showcase their capabilities to the domestic and international markets.

The minister highlighted the expansion of the event compared to the first edition, noting that the number of exhibitors at IEW ’24 is expected to exceed 900 (a 30% increase).

The exhibition area increased by 25% (18,500 square meters this year and 15,000 square meters last year), and exhibition revenue increased by 46%.

(This story has not been edited by News18 staff and is published from associated news agency – PTI)