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Hyundai Grand i10 awaiting launch TCS, Indiaís biggest block buster Latin America beckons India for investments While MoTown is on a tailspin, the telecom sector is staging a rally Canada screams over IT outsourcing to India Renault revving up small car launch Trends point to a hung assembly GMR to raise US $ 250 mn thru QIP Urja Sangam in Delhi Kolkata kisses goodbye to Ambi? Smartphone prices may change Wal-Mart studying FDI norms post split with Bharti Vodafone slapped with tax notice of Rs 3700 crore SpiceJet in the news again Fox Star Studios to tie-up with Bolly-wood and Kollywood German envoy Steiner caps a language row Jet-Etihad Rs 2000 plus crore deal to be cleared ONGC to draw down on reserves to meet CAPEX needs Aircraft lessors to get protection from defaulting airlines Automobile sector in slump... Flipkart India in the red by Rs 280 crore Carlyle invests in Trehanís Medanta Medical Centre Capital Notes Lanco to sell Australian acquisition Singapore Airlines prefers Airbus Hunt for new finance secretary on... Plans to double trade with Latin America Vodafone to buy out minority shareholders Excise duty may halt the war in SUV market Infosys not to cut prices Airlines hit by service tax on lease How important is Modiís German visit... TVS bullish on the two wheeler market? LANCO opens negotiations with buyers for Karnataka power plant
 
Urja Sangam in Delhi

A unique Urja Sangam or Energy Conclave was organised in Delhi by the Ministry of Petroleum and Natural Gas. The conclave was to commemorate 50th anniversary of the state owned ONGC Videsh, Engineers India Ltd and Barauni Refineries of Indian Oil Corporation Ltd.

Prime Minister Modi inaugurated the function attended by the CEOs of the top public and private sector enterprises operating in the upstream and downstream sectors of the Indian oil industry. Modi used the platform to underscore the need for reducing crude oil and petroleum product imports to save valuable foreign exchange for the country. India cannot afford a US $ 164 billion oil import bill as recorded in 2012-13, but India has benefited late last year and early this year from the crash in oil prices by about US $ 50 billion.

Modi asked national oil companies to produce more crude within the country and reduce imports by 20 per cent within 2022, which is a tough target indeed according to oil companies.

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