Page 40 - FIPI - Policy Economic Report - May 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Marketing infrastructure has seen robust growth: India now operates over 24,000 km of product
pipelines, 314 oil terminals/depots, and nearly 96,000 retail outlets. These advancements, along with
strategic reserves and LPG caverns, have bolstered energy resilience.

MPs lauded the Government’s balanced approach, blending consumer welfare, fiscal discipline, and
global diplomatic agility. The meeting reflected the increasing depth of parliamentary dialogue on
energy, with active participation shaping future policy directions.

Their engagement underscored the importance of parliamentary dialogue in shaping inclusive energy
policies. The Government welcomed the inputs and reaffirmed its commitment to incorporating them
into future planning. The participating MPs acknowledged the Ministry’s achievements, shared their
views and expressed support for expanding outreach and improving implementation at the grassroots
level.

India and Denmark signed renewed Memorandum of Understanding (MoU)

India and Denmark have reinforced their long-standing energy cooperation by signing a renewed
Memorandum of Understanding (MoU).

The MoU was signed by Shri Pankaj Agarwal, Secretary, Ministry of Power, Government of India, and
H.E. Mr. Rasmus Abildgaard Kristensen, Ambassador of Denmark to India, in the presence of Shri
Manohar Lal, Hon’ble Minister of Power and Housing & Urban Affairs. This agreement reflects both
countries’ continued commitment to accelerating clean energy transitions.

The renewed MoU supports India's ambitious target of achieving net-zero emissions by 2070. It aims to
foster knowledge exchange and technological collaboration between the two countries, particularly in
the area of clean and sustainable energy solutions. This agreement follows five years of successful
collaboration under the original MoU, signed on June 5, 2020, and initially set to expire on June 5, 2025.
The proactive renewal ensures continuity in dialogue and cooperation, allowing for a seamless extension
of joint efforts in energy sector development.

The renewed agreement broadens the partnership to cover advanced areas such as power system
modeling, integration of variable renewable energy, cross-border electricity trading, and development
of EV charging infrastructure. It also emphasizes increased knowledge exchange through expert
interactions, joint training sessions, and study tours. Shri Manohar Lal, Hon’ble Minister of Power and
Housing & Urban Affairs said that the renewed energy cooperation expresses the mutual commitment
of India and Denmark to foster sustainable development.

India Leads Call for Inclusive Energy Governance at BRICS Energy Ministers’ Meet in Brazil

Shri Manohar Lal, Union Minister for Power and Housing and Urban Affairs led the Indian Delegation for
the BRICS Energy Ministers’ Meeting hosted in Brasília on 19 May 2025 under Brazil’s Presidency.

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