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India's Oil PSUs Turn Tech-Driven & Profitable Under Modi's Vision

Union Minister Hardeep Singh Puri stated that India's oil and gas public sector undertakings are transforming into technology-driven and profitable entities aligned with Prime Minister Narendra Modi's vision. He highlighted HPCL's remarkable 206% increase in Profit After Tax over nine months as a key example of this financial turnaround. The sector is simultaneously advancing on energy transition through solarisation of outlets, CNG expansion, and trials for sustainable aviation fuel. Puri emphasized that these institutions are ensuring energy security while adapting to cleaner fuels and emerging technologies for global competitiveness.

Key Points: Oil & Gas PSUs Become Tech-Driven, Profitable: Hardeep Puri

  • HPCL PAT surges 206% in 9 months
  • Refineries operating beyond capacity
  • Focus on renewable energy & CNG expansion
  • Sustainable aviation fuel trials underway
  • Rajasthan Refinery project advancing rapidly
2 min read

Oil and Gas PSUs becoming tech-driven, profitable and future-ready: Hardeep Singh Puri

Union Minister Hardeep Puri highlights transformation of India's oil & gas PSUs into profitable, future-ready institutions with record profits and green initiatives.

"Guided by the transformative vision of Hon'ble Prime Minister... oil and gas PSUs are evolving into technology-driven, profitable and future-ready energy institutions - Hardeep Singh Puri"

New Delhi, January 22

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Thursday underscored that India's oil and gas public sector undertakings are steadily evolving into technology-driven, profitable and future-ready energy institutions, in line with the transformative vision of Prime Minister Narendra Modi.

Highlighting the strong performance of oil and gas PSUs, the Minister said that the sector is demonstrating how robust economic outcomes and long-term energy transition can progress together.

In a social media post, the minister stated, "Guided by the transformative vision of Hon'ble Prime Minister Sh @narendramodiJi, country's oil and gas PSUs are evolving into technology-driven, profitable and future-ready energy institutions".

He cited Hindustan Petroleum Corporation Limited (HPCL) as a key example of this transformation.

According to Puri, HPCL recorded a 206 per cent increase in Profit After Tax (PAT) over a nine-month period, reaching Rs 12,274 crore. The company also reported a 35 per cent rise in quarterly profit to Rs 4,072 crore, reflecting improved operational efficiency and financial strength.

The Minister said that these results show the growing resilience of oil and gas PSUs amid a changing global energy landscape.

He noted that refineries are operating beyond their nameplate capacity, indicating efficient asset utilisation and strong demand conditions.

At the same time, steady growth in fuel and LPG revenues has supported profitability, while continued reduction in debt levels points to a sustainable and disciplined financial approach.

Puri emphasised that the profitability achieved by oil and gas PSUs is being complemented by focused efforts towards energy transition and future growth areas.

He said that renewable energy integration is progressing across the sector, with initiatives such as solarisation of retail outlets and expansion of CNG infrastructure gaining momentum.

He also highlighted trials for sustainable aviation fuel as an important step towards cleaner energy solutions in the transport sector.

In addition, the rapid advancement of the Rajasthan Refinery project was cited as a major driver of future growth and self-reliance in the refining and petrochemical space.

The Union Minister said that India's energy journey today is about balancing scale with responsibility, innovation with reliability, and reform with results.

He added that oil and gas PSUs are not only ensuring the country's energy security but are also adapting to emerging technologies and cleaner fuels to remain globally competitive.

- ANI

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Reader Comments

S
Sarah B
While the profit numbers are impressive, I hope this financial strength translates into more stable or reduced fuel prices for the common citizen. That's the real test of success for a public sector unit.
A
Ananya R
The focus on solarisation of petrol pumps and sustainable aviation fuel is very encouraging. We need our energy giants to lead the green transition. Hope they invest heavily in R&D for hydrogen and other clean tech too.
V
Vikram M
Good to see refineries operating beyond capacity. It means we are utilising our assets well. The debt reduction is also a positive sign for long-term health. Now, let's see if this efficiency brings down the petrol and diesel prices a bit, yaar.
K
Karthik V
Profits are one thing, but I'm more interested in the "tech-driven" part. Are they using AI for exploration and logistics? Are they building digital platforms for consumers? Hope the minister shares more details on the specific technologies being adopted.
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Priya S
As a taxpayer, I'm happy to see our PSUs doing well. It strengthens the national economy. The expansion of CNG infrastructure is a relief for many middle-class families struggling with petrol prices. More CNG stations please! 🙏

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