New Delhi, Feb 14 Multiple strategic agreements during the ‘India Energy Week 2025’ reaffirm the country’s commitment to securing affordable, sustainable and diversified energy supplies while fostering global collaborations in cutting-edge energy solutions, Hardeep Singh Puri, Union Minister of Petroleum and Natural Gas, has stressed.
These partnerships will help us achieve our energy transition goals and ensure a robust and resilient energy ecosystem for India, said the Union Minister.
At the ‘India Energy Week’, India signed multiple agreements and MoUs aimed at enhancing energy security, diversifying supply sources, and fostering innovation in the oil and gas sector.
These agreements are crucial steps toward a more resilient and sustainable energy future for the country, said the minister on the sidelines of the event.
As part of efforts to diversify crude oil imports, BPCL signed an optional term contract with Petrobras, Brazil, to import up to 6 million barrels of crude.
Strengthening India’s transition to a natural gas-based economy, IOCL and ADNOC (UAE) signed a $7 billion contract to source 1.2 MMTPA LNG for 14 years starting in 2026, while BPCL and ADNOC entered into a five-year LNG off-take agreement for 2.4 MMT, extendable by another five years, according to the ministry.
Expanding India’s role as a regional energy supplier, IOCL signed its first LNG export agreement with Nepal’s Yogya Holdings, ensuring the delivery of 1,000 metric tons (TMT) annually via cryogenic trucks through Odisha’s Dhamra Terminal.
On the technical front, ONGC selected BP as the Technical Services Provider for the Mumbai High field, India’s largest offshore oilfield.
BP will conduct a comprehensive review of field performance, implement technological improvements, and work to stabilise and enhance production.
Additionally, EIL signed an MoU with BP Business Solutions India Pvt. Ltd. To collaborate on refining, pipeline operations, and emission reduction technologies.
In offshore exploration, ONGC Videsh Ltd. And Petrobras signed an MoU to jointly participate in upstream oil and gas projects in Brazil, India, and third countries, exploring opportunities in trading, low-carbon solutions, and digitalisation.
Oil India Limited and Petrobras also signed an MoU for hydrocarbon exploration in India’s deep and ultra-deep offshore basins, aligning with the government’s Hydrocarbon Exploration and Licensing Policy.
India also took steps toward clean energy with BPCL partnering with Eco Wave Power, Israel, to establish the country’s first wave energy pilot project in Mumbai using wave energy converter technology.
According to the ministry, in the biofuel sector, BPCL signed an MoU with the National Sugar Institute, Kanpur, to scale up sweet sorghum-based bioethanol production and build capacity for farmers and industry partners.
BPCL entered into an agreement with Equinor India Pvt. Ltd. for the purchase of LPG (propane and butane).
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