31/01/2024
Parliamentary Standing Committee on Petroleum & Natural Gas interacts with Director (Finance) at Kumarakom, Kerala
During the discussions, the Committee enquired upon various topics such as the availability of Ethanol Production Plants in Southern India, the existing price differential & value addition offered by premium grade fuels over conventional MS (Petrol), Kerosene supply scenario to remotely located islands of Lakshadweep, plans regarding setting up of Biofuel Plants in South India, the likelihood of reduction in LPG fuel prices etc. During his opening remarks, Mr Jain briefed the Committee members about the current energy scenario, the huge incremental petroleum demand envisaged in the coming years and the multi-pronged approach being undertaken by IndianOil to meet the ever-increasing need for petroleum products as well as to make India self-reliant. While briefing about the demand vs supply scenario of petroleum products in Southern India, Mr Jain also touched upon the status of major oil industry infrastructure, efforts to increase domestic production, import dependency, transition towards renewables, etc. He apprised the Committee about the lack of availability of raw materials required for Ethanol production in Southern India and elaborated upon the superior features of the premium-grade products being offered by IndianOil. Mr Jain also briefed about the reducing trend in consumption of Kerosene (SKO) by almost 97% reduction in the Union Territory of Lakshadweep, and how the same is being superseded by imparting more thrust on LPG. Mr Sanjay Malik, ED (Pricing), Corporate Office, Mr Sanjib Kumar Behera, CGM & SH, Kerala State Office (KeSO) and Mr S Lakshminarayanan, CGM (LPG-Sales), Marketing Head Office (MKHO) also joined the discussions with the Parliamentary. In his closing remarks, Chairperson Mr Bidhuri, on behalf of the Parliamentary Standing Committee, applauded the pro-active steps being undertaken by IndianOil in handling the supply-demand position of petroleum seamlessly & effectively at all times.
