Biogas Duty Exemption to Slash CNG Prices, Boost India's Energy Security: Puri

• Petroleum Minister Hardeep Singh Puri announced duty exemptions for blended biogas used in CNG, aiming to reduce natural gas prices in India.
• India is the 3rd largest energy consumer, 4th largest refiner, and 5th largest exporter globally, with strategic fiscal moves to manage energy costs.
• Puri highlighted the long-term commitment needed for energy discoveries, citing an Indian oil PSU's success in Guyana after 46 failed wells.
• The PM-led Samudra Manthan Scheme is crucial for future oil prospecting to secure India's energy independence.
• Rejuvenation of Mumbai High and new discoveries in Andaman islands are expected to increase ONGC's production, though significant investments are needed for long-term projects.

Why It Matters: Duty exemption on blended biogas will lower CNG prices and enhance India's energy security through strategic exploration.