Page 47 - Policy Economic Report_Jan 25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Crore annually to the farmers. For promoting the use of Compressed Bio Gas (CBG) as automotive fuel,
the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative has also been launched.

Financial performance of Oil PSUs: Financial performance of Oil PSUs: Total budgeted Internal and Extra
Budgetary Resources (IEBR) for CPSEs' under the Ministry of Petroleum and Natural Gas in FY 2024-25 is
? 1,18,499 crore against which Rs 97,667 crore is the actual expenditure as on 30.11.2024 which is 82.4%
of the budgeted IEBR. During the same period of FY 2023-24, against IEBR of Rs 1,06,401 crore, actual
expenditure was Rs.75418 crore which was 70.9% of the budgeted IEBR.

16. FLAGSHIP PROGRAMMES

o StartUp India: The PSUs under the Ministry of Petroleum and Natural Gas have created startup
funds aggregating to Rs. 547.35 Crore. At present, a total no. of 303 Startups have been funded
by Oil and Gas PSUs with disbursed fund value of approximately Rs. 286.36 Crores.

o Skill Development: Skill Development Institutes (SDls) for hydrocarbon sector have been set up at
six cities viz Bhubaneswar, Vizag, Kochi, Ahmedabad, Guwahati and Raebareli by IOCL, HPCL,
BPCL, ONGC, OIL and GAIL respectively. Till Nov’24, more than 41547 trainees have been trained
in these SDIs. Several high priority trades have been identified in consultation with the industry
members for National Occupational Standard (NOS)/ Qualification Pack (QP) development. Till
date, 55 QPs have been approved by National Skill Qualification Committee (NSQC).

India Energy Week 2025 to Redefine Global Energy Dialogue

Building the remarkable success of its previous two editions, India Energy Week 2025 (IEW’25), the
flagship energy event of Government of India, is being held under the patronage of the Ministry of
Petroleum and Natural Gas, organised by Federation of Indian Petroleum Industry (FIPI), from 11th to
14th February 2025 at the Yashobhoomi Convention Centre, New Delhi.

The first major global event of the energy calendar, IEW 2025, is poised to be the most comprehensive
and inclusive global energy gathering of the year.

Since its inception in 2023, the India Energy Week has grown from strength to strength. IEW 2025 has
surpassed other international energy events. This year’s edition marks a significant leap over its
predecessor, showcasing elevated leadership participation and more dynamic discussions.

A noticeable improvement is in the seniority of speakers year on year with around 70 CEOs of prominent
International and domestic Energy majors underlying the growing global appeal of the event. IEW will be
bigger than ever with unparalleled global participation, including 20+ Foreign Energy Ministers and Deputy
Ministers representing advanced economies, largest energy producers, and key nations of global south.
The event will also feature Heads of leading International Organizations and 90 CEOs from some of the
world’s largest Fortune 500 energy companies including bp, TotalEnergies, QatarEnergy, ADNOC, Baker
Hughes and Vitol.

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