India Diversifies Oil Imports Across 41 Countries, Says Hardeep Puri
India assures stable fuel supply while increasing oil imports from Russia.
Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said that India is currently importing more crude oil from Russia compared to November last year, while also maintaining a diversified supply base of crude imports from 41 countries. The statement comes amid renewed concerns over global energy security following escalating tensions in West Asia and fears of potential disruptions to key shipping routes.
Addressing concerns over fuel availability, the minister assured that India’s energy needs remain fully met and that there is no immediate risk of shortage. He emphasised that the country has strengthened its supply chain resilience by broadening its import sources, which has helped cushion the impact of geopolitical volatility on domestic fuel availability and pricing.
Puri noted that India’s current energy strategy is designed to ensure both affordability and stability for consumers, even during periods of global uncertainty. He credited the government’s approach to energy management for keeping fuel supplies steady across the country and highlighted that India continues to secure adequate crude oil from multiple international partners.
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The minister also acknowledged the strategic importance of the Strait of Hormuz, stating that nearly 60% of India’s liquefied petroleum gas (LPG) imports and around 90% of its crude oil imports pass through the key maritime route. Despite this dependency, he said the country remains well-prepared to handle potential external shocks affecting global shipping lanes.
Puri further reiterated that the government has taken steps in recent years to protect consumers from sharp fluctuations in global oil prices. He pointed out that fuel prices in India were last revised in February 2022 and said that efforts have been made to absorb global price pressures to avoid burdening consumers, including households that rely heavily on subsidised fuel access.
Reaffirming the government’s stance on energy security, the minister said that around 33 crore households in India continue to have reliable access to fuel for daily needs. He also criticised certain state governments for not fully implementing fuel-related measures, while maintaining that the Centre remains committed to ensuring stable and affordable energy supplies across the country despite ongoing global uncertainties.
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