'India is the future': BP CEO hails country's transformation, success of Chandrayaan-3

British energy major BP's Chief Executive Officer Bernard Looney on Monday hailed India and said the country was transforming before our eyes. Looney was in India last week for the B20 Summit, one of the most important business gatherings among leading economies. "Always a pleasure going to Delhi. But arriving there the week India became the first country to reach the south pole of the moon was something else," he said in a detailed post on LinkedIn, referring to Chandrayaan-3's historic landing on the Moon on August 23. "The excitement – the sense of optimism – was off the charts!"

Looney further said that not only was India one of the fastest-growing economies in the G20 but the way it was transforming "was a sight to behold". 

Referring to the digital revolution in the country, the visiting top executive said that the stuff one can do at the tap of a phone is incredible. "The embrace of digital sets an example to us all, but especially for companies like bp. So it was a special pleasure to meet with Nandan Nilekani from our strategic partner Infosys."

The BP CEO said he got to hear Prime Minister Modi explain how businesses can help solve society's biggest challenges. He said he also met with some of the inspirational leaders driving change and explained some of bp’s plans "to support a country that means so much to us". "After all bp has been in India for more than 100 years - building brilliant brands like Castrol," he said. 

"India really is the future. And I came away with a clear sense that bp’s strategy is perfectly designed to support the country’s drive towards net zero and achieving energy independence," Looney said. 

The BP CEO further said that the British oil major and its partner in India, Reliance Industries Limited, were investing in the oil and gas the world needed today (currently producing around 30 per cent of domestic gas production). "And – not or – we’re investing into our transition growth engines that will support the country’s energy transition, not least in rolling out charging infrastructure to help electrify transport." 

Speaking with reporters on the sidelines of the B20 Summit, Looney said India is "taking incredible steps and doing things in a very innovative and creative way".

BP has invested billions of dollars in an oil and gas field in the Bay of Bengal and is fast expanding a fuel retailing network that also comprises electric vehicle (EV) charging stations. Both ventures are in alliance with RIL. 

BP in partnership with Mukesh Ambani's RIL is now producing a third of India's gas production after a third set of discoveries in the KG-D6 block was brought to production. Looney said BP and Reliance were now producing approximately one billion cubic feet a day of natural gas, which is approximately one-third of India's domestic gas production. The British oil company also has a gas retailing venture and a network of 1,625 petrol pumps in India. 

(With inputs from PTI)