India Energy Week 2026 Opens in Goa;  PM Pitches $500 bn Energy Opportunity

 Prime Minister Narendra Modi on Tuesday inaugurated the fourth edition of India Energy Week (IEW) 2026 in Goa, projecting India as a major global hub for energy investment and dialogue, and outlining plans for large-scale expansion across oil, gas and clean energy, with clear opportunities for public sector players such as Numaligarh Refinery Ltd (NRL) and Oil India Ltd (OIL).

Addressing the inaugural session, Modi said India, the world’s fastest-growing major economy, would invest nearly USD 100 billion in oil and gas by the end of the decade and offered almost USD 500 billion of investment opportunities across the energy value chain. 

India, currently the world’s second-largest refiner with 260 MMTPA capacity, aims to scale this beyond 300 MMTPA, he said, a push that directly aligns with expansion and integration plans of NRL and upstream growth prospects for OIL in the Northeast.

The Prime Minister underlined India’s growing role in cleaner fuels, noting progress towards 20 per cent ethanol blending, expansion of LNG usage to meet 15 per cent of total energy demand, and an ambitious target of 100 GW nuclear capacity by 2047. He invited global investors to “Make in India, Innovate in India, Scale with India and Invest in India”.

Petroleum and Natural Gas Minister Hardeep Singh Puri said IEW has rapidly emerged as one of the world’s most influential energy platforms. He highlighted reforms to strengthen upstream exploration, including new bidding rounds, price stability measures to shield consumers, and continued importance of conventional energy alongside renewables. 

Puri added that India has achieved nearly 20 per cent ethanol blending and is making rapid progress in bioenergy and compressed biogas, areas relevant for refineries like NRL.

UAE Minister Dr Sultan Al Jaber said India is the UAE’s most valuable energy market and expressed confidence that India’s growth would be “by quantums, not percentages”.

IEW 2026 is hosting over 75,000 energy professionals, 700 exhibitors and delegates from 120 countries, marking strong growth from previous editions. (EOM).

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