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Oil will remain essential even amid green energy shift — Indian Minister

Hardeep Singh Puri emphasized that India, given the scale of its energy needs, will continue to rely on oil and gas

NEW DELHI, May 16. /TASS/. Traditional energy sources will continue to play a significant role in the global energy mix, even as the transition to renewable energy gathers pace, Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri told TASS.

"I want to be very honest with you. Even after we do everything possible [to transition to renewables - TASS], traditional energy will still have a very large share. Not only in India through the world," he said.

He recalled that as early as the mid-20th century, some economists predicted that oil would no longer be needed by the 2000s. "Today you ask any expert anywhere, he or she will not make such prediction. Even the most optimistic forecasts say that by 2040, traditional energy will still be major," the minister added.

He emphasized that India, given the scale of its energy needs, will continue to rely on oil and gas.