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Will double oil refining capacity in 5 yrs: PM Modi at Petroleum University convocation

“Today there are unlimited opportunities in the energy sector in India. You all have reached this sector at the right time. In this decade, in just the oil and gas sector, crores of investment will happen. So for you, there are ample opportunities from research to manufacturing,” said PM Modi

By: Express News Service | Ahmedabad | Updated: November 22, 2020 1:09:25 am
PM Modi, Prime Minsiter Narendra Modi, education news, energy sector, PM latest speech,PM Modi during his address at petroleum university (Source: Screengrab/ Youtube, @NarendraModi)

PRIME MINISTER Narendra Modi said Saturday efforts were on to double India’s oil refining capacity in the next five years and multiply the usage of natural gas by four folds in this decade.

The Prime Minister, who was addressing the 8th convocation ceremony of Gandhinagar-based Pandit Deendayal Petroleum University (PDPU) via video-conference, said the country was also moving forward to reduce its carbon footprint by 30 to 35 per cent.

A total of 2,600 students received their degree certificates during the convocation ceremony.

During his address, Modi recalled his experience of battling “pre-conceived notions” as the former chief minister of Gujarat. He told the students how he had helped to separate feeders supplying electricity to domestic and agriculture consumers, and thus ensured round-the-clock and efficient power supply in the state.

“This experiment changed the mindset of all our officers at that point in time… If I had stuck to the preconceived notions, this would not have become a possibility. I had a clean slate and I used to think in a new way,” he said.

Under him, the PM said, the Gujarat government had “gambled” with solar power and purchased it at Rs 12-13 per unit even when thermal power was available at Rs 2.50 to Rs 3 per unit.

“You (students) all know of today’s fashion to create a ruckus and find fault in small matters. I used to face a lot of problems then (as Gujarat CM). The issue came before me about power producers selling at (thermal power) Rs 2-3 per unit and (solar power) Rs 12-13 per unit. I was confronted with a moment where I had to worry about my reputation or worry about my future generations. I knew that this type of decision will be blown up by the media and will invite charges of corruption. But I had a clean heart. I genuinely believed that we had to do something to change our lifestyles. Finally, we decided to go for solar energy. And we made this decision with honesty, did it for a bright future with a vision. Solar plants began in Gujarat and in large numbers,” Modi said.

Solar energy, the PM added, has now become “a movement in the country” and the cost of solar power has “dropped below Rs 2 per unit”. “Keeping in mind our energy needs, it is our endeavour to increase the proportion of natural gas by four times in this decade alone. In the next five years, efforts are being made to double the country’s oil refining capacity,” Modi said.

Modi told the graduating students that they were entering the energy sector at an “opportune time”.

“Today, there are unlimited opportunities in the energy sector in India. You (students) all have reached this sector at the right time. In this decade, in just the oil and gas sector, there will be crores of investment… there are ample opportunities, from research to manufacturing,” the PM said.

During his virtual address, the PM also urged students to become the soldiers of “Atmanirbhar Bharat”. “Today’s India is passing through a big phase of transition… Think about what a golden period you are in,” he said.

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