We started this month with a first ever International Conference on LPG in Bhubaneshwar, on 1-2 September 2016, which saw active participation from the Oil Industry as well as experts & stakeholders in the field from across the globe.
In a progressive move Cabinet Committee on Economic Affairs (CCEA) chaired by Hon’ble Prime Minister gave approval on 28 September 2016, to an Indian Consortium of Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat Petro Resources Limited (BPRL) for acquiring 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from Rosneft, the national Oil Company of Russia, leading India’s Overseas Assets to 15.18 MMTOE since May 31st, 2016.
The CCEA has also approved Capital Grant of 40% for Jagdishpur-Haldia and Bokaro-Dhamra Pipeline (JHBDPL) project, which is being implemented by GAIL at a total capital outlay of Rs. 12,940 Crores on September 21, 2016. This is the first time ever that Government of India has extended Capital Grant to a Natural Gas pipeline project. In addition a MoU was signed between GAIL & IOCL for equity stake in upcoming Dhamra LNG Terminal. These developments are greatly focused on Hon’ble Prime Minister’s vision of development of Eastern India.
In the hydrocarbon sector, promoting a much transparent regime of resource allocations and greater ease of doing business, we took our Roadshow for 67 Discovered Small Fields Bid Round Auctions to Singapore & London, receiving encouraging participation from potential investors.
I also co-chaired the 3rd India-Canada Energy Dialogue with Mr James Gordon Carr, Minister of Natural Resources of Canada in New Delhi, where various aspects of energy sector were discussed including inter-alia, Indian investments in Canadian upstream sector, sourcing of crude and technologies from Canada, and the recently launched Discovered Small Fields Bidding Round.
On the LPG front, Pradhan Mantri Ujjwala Yojana was launched in Jammu & Kashmir, both in Srinagar & Jammu on September 28, 2016 where LPG connections were distributed to BPL women by Chief Minister Mohtarama Mehbooba Mufti herself. We aim to take LPG to each and every household in the State in the next 3 years.
Talking of Jammu & Kashmir, I would like to use this medium to congratulate the employees of the Oil Marketing Companies in Jammu & Kashmir, who have worked with dedication & fearlessness to ensure continuous supply of fuel in the valley even as the State remained in a state of unrest and lockdown since July 2016. The team, in accordance with the State Government, has shown tremendous courage and competency in managing fuel supply across the State in times of emergency such as this. And this is not the first time that the Oil companies have helped in crisis in the Valley. During the 2014 Kashmir floods as well, OMCs contributed significantly towards disaster management in the area.
I would like to conclude by saying, that while we are climbing up the ladder of development & progress, we as a team are also forever ready to overcome unprecedented challenges and continue to serve our nation.
Minister of State (I/C) Petroleum & Natural Gas