New Delhi, Oct 29 (IANS) Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Wednesday hailed the Oilfields Regulation & Development Amendment Act, 2025 as a “landmark reform for Bharat’s energy future,” calling it a major step towards achieving energy independence under Prime Minister Narendra Modi’s leadership.

In a post on social media platform X, Puri said the amended Act modernises a 1948 law to suit the demands of today’s energy era.

He noted that the reform introduces one uniform petroleum lease system, expands the regulatory scope to include coal bed methane (CBM), shale gas, tight oil, and gas hydrates, and allows for the use of solar and hybrid systems in oilfields.

Puri added that the changes will help ensure faster approvals, infrastructure sharing, and enhanced investor confidence, marking a decisive move toward a more efficient and future-ready energy sector.

The minister’s remarks come at a time when India’s petroleum and energy sector is undergoing rapid transformation, positioning the country as a global growth driver in the energy landscape.

Earlier this week, speaking at the Energy Technology Meet in Hyderabad, Puri highlighted that India’s energy journey reflects remarkable progress, powered by visionary policies, technological innovation, and sustained investments in refining, biofuels, and green energy.

According to the Ministry of Petroleum & Natural Gas, India currently contributes 30–33 per cent of global energy demand growth and is expected to play a defining role in shaping the world’s energy future.

The country’s refining capacity, currently at 258 million metric tonnes per annum (MMTPA), is projected to reach 310 MMTPA by 2030, with long-term plans to expand further to 400–450 MMTPA.

Puri also highlighted India’s achievements in the biofuel sector, noting that the nation achieved 10 per cent ethanol blending five months ahead of schedule in 2022, and the target for 20 per cent blending has been advanced from 2030 to 2025–26.

He said India’s refineries are world-class, globally integrated, and export-ready, making the country the fourth-largest refining nation and among the top seven exporters of petroleum products, with exports worth over USD 45 billion in FY 2024–25.

Calling the 2025 amendment a timely and forward-looking step, Puri said it reinforces the government’s commitment to creating a modern, transparent, and technology-driven energy ecosystem that supports growth, sustainability, and self-reliance.

–IANS

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