COP28 : Petroleum ministry warns against curbs on hydrocarbon investments

India should stick to its position that further investment in developing and extracting oil and gas resources is needed in tandem with the exploration of carbon-free alternatives at the upcoming global COP28 climate change summit in the UAE, Petroleum Ministry officials said. This stance has been part of the Ministry’s recommendations to inter-ministerial consultations on COP28, they said.

“The argument is in line with Prime Minister Narendra Modi’s call to ensure major investments into India’s oil and gas exploration and production (E&P) sector, even as we remain committed to boosting renewable energy and phasing out carbon emissions.