Vice President of India, M Venkaiah Naidu stresses on energy security at the IIPE Convocation in Visakhapatnam

The 1^st convocation of the Indian Institute of Petroleum & Energy (IIPE) Visakhapatnam was held on 21^st January, 2022 at Visakhapatnam Metropolitan Region Development Authority (VMRDA) Children’s Arena. The Chief Guest was Hon’ble Vice President of India, M Venkaiah Naidu, who delivered the  1st IIPE convocation address in Visakhapatnam. The Minister of State of Petroleum & Natural Gas, and Labour and Employment, Rameshwar Teli, was the Guest of Honour for the event.

Addressing the graduating students at first Convocation at IIPE Visakhapatnam, faculty, and other attendees, the Vice President called for increasing indigenous production of crude oil through strong research and development efforts to ensure energy security of the country. Calling for ‘Atma Nirbharta’ in the country’s energy mix, he suggested focussing more on the increasing domestic exploration of petroleum, harnessing the full potential of renewable sources, and aiming for excellence and innovation in the energy industry. Though India is the world’s third-largest consumer of crude oil it is still dependent on importing more than 80 per cent of its needs. For this, Mr. Naidu underlined the importance of increasing production, not only to save foreign exchange but also to ensure energy security. He noted various policy reforms of the Government of India, such as the Hydrocarbon Exploration Licensing Policy (HELP), aimed at increasing exploration in new sedimentary basins.

The Vice President M Venkaiah Naidu expressed confidence that IIPE, Visakhapatnam will show the way forward by becoming an exemplar in the domain of energy research. He also appreciated the efforts of the administration and complimented the graduating students for their achievements. Mr. Naidu presented awards to the gold medalists from the batches 2016-20 and 2017-21.

With increasing population, urbanization & industrialization,the use of petroleum products is only expected to increase. It is therefore important to focus on increasing indigenous crude oil production & reducing imports to ensure energy security & save precious foreign exchange. pic.twitter.com/7hzcUaxzPa

— Vice President of India (@VPSecretariat) January 21, 2022

Dr Seediri Appala Raju, Andhra Pradesh Minister for Animal Husbandry and Fisheries & Dairies Development, Prof P.K. Banik, President of the Board of Governors – IIPE, Prof VSRK Prasad, Director – IIPE,  and other dignitaries participated in the event.