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Government of India
Ministry of Petroleum & Natural Gas
03-November-2010 18:52 IST
Address of Mos(P&NG) Shri Jitin Prasada at the Valedictory Session of Perotech-2010
Following is the text of the speech delivered by the Minister of State for Petroleum and Natural Gas Shri Jitin Prasada at the Valedictory Session of Perotech-2010:

“At the very outset, I compliment the organizers for organizing such a mega event during the course of past 5 days. It was even mind boggling sometimes to see that simultaneously 4-5 programmes were going on at different venues during these days and all of these programmes received an overwhelming response from the delegates. The presence of Hon’ble Ministers and energy leaders from across the globe is indeed a stamp on the truly international nature of this event. I am sure our esteemed guests had a comfortable and a pleasant stay in India.

Various technical sessions, youth forums and corporate social responsibility sessions have enriched the mutual understandings between the stakeholders. Such forums are the proof that everybody can gain from sincere and open deliberations like these. The state-of-the-art technologies showcased in the Exhibition have been a big draw, with participation of 350 companies including 205 multinationals, from 28 countries. This is the highest participation so far in any such event.

Prime Minister, Dr. Manmohan Singh ji, while inaugurating Petrotech-2010 day-before-yesterday, had raised a number of significant issues. While talking about changing growth patterns in the demand for oil, particularly the rising share in the demand from the Asian countries, he underscored the cruciality of supply side uncertainties. I am happy that the various bilateral talks Shri Murli Deora ji had with the Ministers from Africa, Canada and Sri Lanka, have resulted in positive developments. This opportunity has further strengthened our commitment to build a strong economic partnership with other countries to the mutual benefit of each other. I was particularly enthused by the overwhelming presence of our young friends in the World Petroleum Council-Youth Forum Session which was held as a parallel track event. The youthful energies and their courage to think out-of-box solutions would definitely provide us with the innovative and greener solutions for our growing economies. This Conference would surely prove to be an important milestone in the quest for economically viable non-fossil fuels.

It will not be out of place to mention here that bottomlines of our public sector oil companies are dependent to a large extent on our Finance Minister. Sir, our oil companies have always shouldered the social sector related priorities of our Government. Be it the supply of subsidized kerosene oil, LPG or maintaining the supply lines of petrol and diesel in trying & testing situations, they have never failed us. Our upstream companies too share their responsibility of giving subsidized fuel to the common man even after delivering large dividends year after year. Sir, bold and progressive decisions taken in the recent past, like rationalizing the prices of APM gas, deregulation of petrol, have indeed strengthened the competitiveness of our oil companies. This has also unlocked new entrepreneurial activities in these sectors.

We take this Conference as an opportunity to reaffirm our commitment to the nation that energy security for the growing economy and aspirations remains high on our agenda. There used to be a time when we were dependant on the outside world for food-grains and in the 1970s a right mix of policies facilitated the green revolution. Perhaps the collective memory of our present generation may not even recall those days. Let this Conference give a clarion call that abundant and greener energy shall be provided for upliftment of all societies and nations.

I wish you all the very best and a very happy and prosperous Diwali !”

RCJ/ls