Transformations in India's Oil and Gas Sector Under Modi Government
Significant Changes in Oil and Gas Industry
New Delhi, June 28: On Saturday, Union Petroleum Minister Hardeep Singh Puri highlighted the transformative impact the Modi administration has had on India's oil and gas sector over the past 11 years.
This transformation has been driven by innovative initiatives such as 'Digital India', which have made fuel stations and LPG systems more advanced and efficient.
In a post shared on the social media platform X, the minister credited Prime Minister Narendra Modi's visionary leadership for the advancements in fuel stations, refineries, and LPG systems, stating that they have become more sophisticated through the Digital India initiative.
He emphasized that technological advancements, from the unified payments interface (UPI) at fuel pumps to the integration of artificial intelligence (AI) in refineries, represent a significant and visible shift in the industry.
The minister also released a video showcasing the substantial improvements in the oil and gas sector attributed to technological integration.
Currently, nearly all fuel stations are automated, with digital monitoring and control of fuel dispensing units and inventory.
The video further indicated that UPI is now widely accepted at fuel stations, and the introduction of Direct Benefit Transfer (DBT) in the LPG system has resulted in savings of Rs 3.48 lakh crore.
Moreover, the implementation of 'digital twin' technology and AI has minimized downtime in refineries, thereby enhancing production efficiency.
Recently, the Modi government has also opened up one million square kilometers of India's 3.5 million square kilometers of sedimentary basin for oil and gas exploration, an area that was previously restricted.
According to the minister, this initiative aims to boost domestic production and reduce reliance on imports, thanks to Prime Minister Modi's strategic leadership.
He added that alongside the new regulations governing exploration and production, various measures have been introduced to facilitate business operations in the oil and gas sector.