New Delhi, Feb 13
At India Energy Week 2025, India signed several key agreements to improve energy security, expand supply options, and encourage innovation in the oil and gas industry. Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri, said these agreements are important for ensuring a stable and sustainable energy future for the country.
Key Agreements Signed:
- Oil Imports: BPCL signed a deal with Brazil’s Petrobras to import up to 6 million barrels of crude oil.
- Natural Gas Supply:
- IOCL signed a $7 billion contract with ADNOC (UAE) to buy 1.2 million metric tons of LNG annually for 14 years, starting in 2026.
- BPCL signed a five-year agreement with ADNOC to buy 2.4 million metric tons of LNG, with an option to extend for another five years.
- LNG Export: IOCL signed its first-ever LNG export deal with Nepal’s Yogya Holdings to supply 1,000 metric tons per year via trucks from Odisha’s Dhamra Terminal.
Technology and Exploration:
- Oilfield Development: ONGC selected BP to help improve production at Mumbai High, India’s largest offshore oilfield.
- Refining & Pipeline Operations: EIL partnered with BP Business Solutions India to improve refinery operations and reduce emissions.
- Offshore Oil & Gas Exploration: ONGC Videsh and Petrobras signed a deal to work together on oil and gas projects in India, Brazil, and other countries. Oil India Limited also signed an agreement with Petrobras for deep-sea exploration in India.
Clean Energy & Biofuels:
- Wave Energy: BPCL partnered with Israel’s Eco Wave Power to launch India’s first wave energy project in Mumbai.
- Bioethanol Production: BPCL and the National Sugar Institute, Kanpur, will work on producing bioethanol from sweet sorghum, helping farmers and industry partners.
- LPG Trade: BPCL signed a deal with Equinor India to buy propane and butane gas.
Minister Puri stated that these agreements will help India secure reliable and affordable energy while advancing clean energy initiatives. The partnerships will support India’s energy transition goals and strengthen its energy sector.
