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Hardeep Singh Puri
Union Petroleum Minister Hardeep Singh Puri on Tuesday denied that India was under any pressure to stop buying Russian oil. Indian refiners would purchase crude from suppliers offering the most competitive prices as the country prioritises energy security amid global market uncertainties, he said. India was not particularly buying Russian oil at present, but the decisions in this regard were guided by commercial considerations rather than pressure from any country, he added. "I have never any felt pressure," Puri said during an interaction at the 29th Energy Technology and Innovation Meet which began here on Tuesday. "At the point of negotiation, whoever is supplying a particular grade, we will buy from them. Prices come down sometimes," he said. The minister's remarks come amid international scrutiny of India's purchases of Russian crude, and Western efforts to curb Moscow's oil revenues following Russia's invasion of Ukraine. Referring to the restrictions imposed on two Russia
India is poised to strengthen its position as a global refining hub, with its oil processing capacity set to rise to 300 million tonnes annually by 2030 even as Europe and other parts of the Western world see refinery capacity decline, Union Minister Hardeep Singh Puri said on Tuesday. India's refining capacity is currently around 290 million tonnes per annum and is expected to expand further by scaling up existing facilities and adding new projects, the Union Petroleum Minister said at a news conference on the sidelines of the 29th Energy Technology and Innovation Meet in south Goa. He said the expansion will allow India not only to meet its domestic energy requirements but also to supply more petroleum products to international markets. "With refining capacity increasing in a big way, we will be in the happy situation of not only refining for ourselves, but for the world," Puri added. He contrasted India's expanding refining infrastructure with the decline in global capacity, ...
Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said the Centre has no immediate plan to increase the ethanol blending in petrol beyond the current 20 per cent. During an interaction at the inauguration of the 29th Energy Technology and Innovation Meet in South Goa, Puri also claimed that misinformation was being spread about biofuels. Misinformation about E20 (20 per cent ethanol-blended petrol) was a "contrived narrative," he said. "In so far biofuels are concerned, yes, the 20 per cent (of ethanol blending) was the target, and there is no desire, just now, to increase by more than 20 per cent," he said to a question on discussions around E20 fuel, adding that misinformation was being spread about the issue. The government has been promoting ethanol-blended petrol as part of its strategy to reduce dependence on imported crude oil, one of the biggest contributors to its current account deficit. The country has already rolled out E20 fuel, containing 20 pe
India successfully shielded consumers from supply disruptions triggered by the closure of the Strait of Hormuz earlier this year through diversified sourcing, expanded refining capacity and higher domestic production, Oil Minister Hardeep Singh Puri said on Friday, while outlining the government's broader strategy to strengthen the country's energy security. Addressing an industry event organised by the Confederation of Indian Industry (CII), Puri said India had moved beyond viewing energy security solely through the lens of access to hydrocarbons, citing diversified imports, strategic partnerships, infrastructure expansion and alternative fuels as key pillars of its approach. "Today, I think we are in the happy situation of being able to say that, as far as India is concerned, we have moved on from that," he said. He said India maintained uninterrupted fuel supplies despite disruptions to shipping through the Strait of Hormuz, a key global energy transit route. The Iran war disrupt
