The Economic Times Oil & Gas Annual Conference & Expo 2024 in New Delhi shed light on the evolving global trade dynamics and the shift towards new energy sectors. Keynote speakers stressed the need to balance traditional fuels with emerging technologies to address future energy needs. Rajinder Kumar, from the Ministry of Petroleum and Natural Gas, discussed the diminishing role of multilateral platforms like WTO and the rise of inward-looking policies. The focus was on future growth areas such as long-distance LNG transportation, green hydrogen energy, and electric vehicles. M K Surana, CEO of Ratnagiri Refinery & Petrochemicals Ltd, highlighted challenges posed by geopolitical tensions and rapid technological advancements. Despite the energy transition, oil continues to hold significance in India's energy mix, with projected consumption expected to increase to 350 million tonnes by 2047. The event emphasized the importance of cohesive strategies to manage the energy transition effectively while seizing opportunities in emerging energy sectors for sustainable economic growth.