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Speaking at the CII Annual Summit, Union Minister Hardeep Singh Puri said India's oil companies are losing ₹1,000 crore every day and the under recovery is going to be ₹1,98,000 crore
Amid the West Asia crisis, the government is considering expanding India's crude oil, gas and LPG reserves to strengthen long-term energy security
Oil Minister Hardeep Singh Puri said state-run oil companies are facing mounting losses from frozen fuel prices amid rising crude oil costs and geopolitical tensions
At the same time, the minister acknowledged growing fiscal stress from keeping retail fuel prices unchanged
Oil Minister said PM Narendra Modi's austerity appeal should be taken as a wake-up call and urged to start thinking of "measures" to lessen fiscal strain from West Asia conflict
The government said India has adequate fuel supplies and stable prices despite rising global energy costs and mounting losses for oil marketing companies
US envoy Sergio Gor and Hardeep Singh Puri discussed access to American energy and strengthening bilateral ties, a day after PM Narendra Modi's call with US President Donald Trump
Oil minister visits Qatar after US-Iran ceasefire, as LNG disruptions from QatarEnergy raise concerns over India's energy supplies and gas allocation priorities
Minister says India secured alternative energy supplies amid West Asia crisis
India holds around 25 days of crude and petroleum products and may diversify crude sourcing as the Strait of Hormuz faces disruptions, Oil Minister Puri said
Replying to supplementaries during Question Hour, the minister said for any country like India, which is growing at a phenomenal pace, there must be a very viable and secure reserve
The greenfield refineries being built in India have a stronger focus on petrochemical production
The Union minister said these appointments will play a vital role in realising the vision of Viksit Bharat@2047 envisioned by Prime Minister Narendra Modi
He urged the youth to draw strength from history to rebuild the nation and work toward creating a strong, great India based on its own values, rights, and beliefs
Petroleum Minister Hardeep Singh Puri said following the implementation of the ethanol blending programme, money which was earlier spent on crude oil imports is now going to farmers
India's decision to import LPG from the US helps it to diversify sources as it reduces almost full reliance on West Asian countries for supply of the country's primary cooking fuel
Development comes at a time when negotiations for India-US BTA gather steam
Minister says govt working to give long-term charters to Indian carriers
The catch is that this is still a find of hydrocarbon presence; whether the basin will actually yield natural gas is still unknown, and even it does, it could take a decade for commercialisation
He said all sections, particularly lower middle class, economically weaker sections will benefit