New Delhi, Aug 4: On fifteenth day of Parliament monsoon session, the Lok Sabha passed a bill to establish an Indian Institute of Petroleum and Energy in Andhra Pradesh’s Visakhapatnam and declare it as an institution of national importance.
The Bill will help in establishment of the Institute of Petroleum and Energy, which will provide a high quality education and research key elements such as petroleum, hydrocarbons and energy.
Petroleum and Natural Gas Minister Dharmendra Pradhan said the Krishna-Godavari basin could fulfil country’s energy needs for upcoming years and however the challenge is how we utilize it.
He said the institute would become the foundation for future energy security by training professionals in the field.
Referring to Houston city of the US which is worldwide famous for its energy industry, Pradhan stated “We can create a new Houston. This institute can be the seed for it.”
“It will be the foundation stone for future energy security,” he further added.