News Release Details

Hon’ble Minister for Petroleum & Natural Gas inaugurates Energy Technology Meet (ETM) 2024 at Bengaluru
Bengaluru 12-Nov-2024

The Energy Technology Meet (ETM) 2024, organized by the Centre for High Technology (CHT) and co-hosted by Indian Oil Corporation Ltd. (IndianOil), commenced today in Bengaluru, bringing together industry experts, researchers, policymakers, and innovators under the theme “Green Energy Horizons: Advancing Sustainable Refining and Petrochemicals.” The three-day event from 12 -14 November 2024, highlights India’s commitment to sustainable energy innovations and the transition towards greener energy solutions.

Inaugurating the event, Shri Hardeep Singh Puri, Hon’ble Minister of Petroleum and Natural Gas, upheld ETM-2024 as a platform to bring together Energy Security, Sustainability and Technological innovation. Referring to International Energy Agency (IEA) figures, Hon’ble Minister mentioned that the nation’s energy needs are expected to grow by 2.5 times by 2047. Additionally, India is expected to account for 25% of the overall global growth in energy demand in the next two decades.

Shri Puri lauded the Oil Marketing Companies (OMCs) and private energy companies for their proactive approach in achieving net-zero targets. He also affirmed the readiness of the industry to support the Prime Minister’s vision of a ‘Viksit Bharat’ through advancements in ethanol, hydrogen, and biofuels.

Hon’ble Minister highlighted India’s biofuel achievements, revealing that India’s current biofuel blending rate has reached 16.9%, putting the country on track to reach the 20% target set for 2025-26. “As a result of Govt. of India’s biofuel initiatives, we have saved INR 91,000 crore in import bills parallelly giving a much-needed boost to the agriculture sector,” he added. He also said that India ranks second globally in biofuel blending, underscoring its leading position in sustainable fuel practices.

Further, emphasizing India’s refining sector, Shri Puri noted, “India has the capability to process over 250 types of crude oil, with refining capacity anticipated to grow from the current 258 MMTPA to 310 MMTPA.” India’s refining expansion, coupled with petrochemical integration, positions India well on its way towards flexible, efficient energy transition.

Addressing the role of digital innovation, the Minister referred to the BCG report forecasting India’s Artificial Intelligence market to reach USD 70 billion by 2027, underscoring digitalization’s potential to drive efficiency in energy operations.

Mr. V Satish Kumar, Chairman & Director (Marketing), IndianOil, in his address said, “The future of the energy industry hinges on integrating green energy solutions into refining processes. Through cutting-edge technologies and resource optimization, we can build a resilient and environmentally responsible industry. ETM-2024 opens rich opportunities for our refining and petrochemicals sector, that can play a significant role in catalysing the nation’s aspirations.”

This flagship event of MoP&NG is marked by the presence of Hon’ble Minister of Petroleum & Natural Gas and several top cadre leaders of the Petroleum industry and Government of India. Over 1300 delegates from India and abroad including domain experts, academia, licensors, R&D scientists, and other professionals from the Hydrocarbon sector are participating in this 3-day event.

ETM 2024 will feature technical sessions on renewable integration, hydrogen production, waste-to-energy innovation, and strategies for carbon neutrality. An exhibition area will showcase cutting-edge products and technologies from industry leaders, startups, and research institutions. The event fosters collaborative opportunities, encouraging academia-industry partnerships, skill-building, and joint R&D efforts to advance India’s sustainable energy future.

Bibhuti Ranjan Pradhan
Executive Director (Corporate Communications, Branding & Coordination)
Indian Oil Corporation Limited

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