In an effort to give impetus to the Indian Hydrocarbon sector, a major historical stride has been taken with the announcement of the amalgamation of two important entities in the sector namely Petroleum Federation of India (PetroFed) and Petrotech Society. The significant announcement was made by Sh. D.K. Sarraf, Chairman & Managing Director, ONGC in the presence of Sh. Arun Jaitley, Hon’ble Union Minister of Finance and Sh. Dharmendra Pradhan, Union Minister of Petroleum and Natural Gas amongst other dignitaries during the Valedictory Session of Petrotech 2016 Conference on Wednesday.
The Governing Councils and General Bodies of both the societies have approved the amalgamation and the new body will now be renamed as ‘Federation of Indian Petroleum Industry’. FIPI is expected to be better placed to serve as a strong unbiased facilitator of continuous dialogue between various stakeholders of the upstream, midstream & downstream sectors of the Indian petroleum industry including global suppliers, technology providers, service providers, academic entities and relevant agencies for protecting and upholding the interest of Indian petroleum industry.