Promoting efficiencies and investments in India with Petrotech 2019

Dated : 10 February 2019 07:55:00 PM

Petrotech 2019 is being organized from 10 - 12 February 2019 at Expo Mart, New Delhi by ONGC and FIPI under the aegis of Ministry of Petroleum and Natural Gas (MOPNG).

A Plenary Session was organized on day one of Petrotech, i.e. 10 February 2019. The theme of the Plenary Session was ‘Progressive Regulations- Promoting efficiencies and investments. The objective of the session was to highlight the task of reaching every household in order to optimize the use of energy with more efficiency. The speakers of the this session were Central Provident Fund Commissioner Dr. V.P. Joy, President of National Hydrocarbon Agency of Colombia Mr. Luis Miguel Morelli, Assistant Deputy Minister of Trade and Invest Attraction of Alberta Mr. Mathew Machiesele, Director of International Energy Agency Keisuke Sadamori, Vice President Crude Trading and Supply Mark Quartermain, Global Transaction Advisory Services Leader for Oil & Gas Andy Brogan and Senior Vice President Global Fiscal Research of Wood Mackenzie Graham Kellas and the Moderator Dilip Khanna.

To overcome the big challenges in the energy sector Central Provident Fund Commissioner Dr. V.P. Joy suggested to expand L.P.G connections, conventional and oil resources and efficient technology. He further explained the four key elements to achieve efficiency of energy resources, which are policies, infrastructure, investment and good focus.

‘Columbia offers a growing market that is strategically placed in order to facilitate the regions transactions, businesses and a platform with more than 16 commercial agreements that allow investors a preferential access to third markets’, said President of National Hydrocarbon Agency of Colombia Mr. Luis Miguel Morelli.

In addition, ADM of Trade and Invest Attraction of Alberta Mr. Mathew Machiesele acknowledged the four-decade partnership with India and admired to grow and maintain the relations.  

‘The increase in demand would be twice as large without continued improvements in energy efficiency, a powerful tool to address energy security and sustainability concerns’, said Director of International Energy Agency Keisuke Sadamori.

The session concluded on a note that energy markets are going through changes in geography and fuel sources and securing the affordable supply of oil.