Page 10 - Hardeep Singh Puri

India clear about its policy regarding oil purchases, says Hardeep Puri

India has reiterated its choice of importing oil from countries like Russia after OPEC Plus, a consortium of oil-producing nations led by Russia and Saudi Arabia announced a slash in oil production

No one has told us not to buy oil from Russia, says Hardeep Singh Puri

The Indian government has a moral duty to provide energy to its citizens and it will continue to buy oil from wherever it has to, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Friday, asserting that no country has told India to stop buying oil from Russia. The Russia-Ukraine war has had a far-reaching impact on the global energy system, disrupting supply and demand patterns and fracturing long-standing trading relationships. It has pushed up energy prices for many consumers and businesses around the world, hurting households, industries and entire economies of several nations. India's crude oil imports from Russia have jumped over 50 times since April and now it makes up for 10 per cent of all crude bought from overseas. Russian oil made up for just 0.2 per cent of all oil imported by India prior to the Ukraine war. The Western countries are gradually bringing down their energy purchases from Russia following its attack on Ukraine. India will buy oil from

OPEC's sovereign right to decide on oil production: Hardeep Singh Puri

It's the sovereign right of the Organization of Petroleum Exporting Countries to decide on the oil production capacities, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said Friday. Refraining from commenting on the controversial decision of OPEC on cutting oil production by two million barrels a day, which has taken the world by surprise, Puri said it is likely to be scrutinized very carefully. During an interaction with a group of Indian reporters, he said that India as one of the major consumers of oil and gas also has a major say in the global oil market. "India is not a part of OPEC. India is at the receiving end of OPEC decisions..., he said in response to a question. I have always traditionally taken the view, it is their sovereign right to decide what they wish to do, how much oil they want to produce and how much they want to put into the market, Puri said when asked about the decision of OPEC countries to cut oil production. But I always say that all of t

India handled energy crisis in responsible, mature manner: Minister Puri

India has handled the current energy crisis in a responsible and mature manner, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said Thursday asserting that the Modi Government has not allowed energy shortages to affect any part of its population. The minister said that there is a huge potential of India-US collaboration in the energy sector. Today, when we talk about energy it suddenly assumes a different(connotation) but I think this too shall pass. We have been able to navigate away past the challenges in what I think is a responsible and mature manner, Puri said at a reception hosted in his honour by India's Ambassador to the US Taranjit Singh Sandhu. I don't think we've allowed energy shortages to affect any part of our population, including in parts of the Northeast which were undergoing heavy flooding. There were never any shortages, and we are confident of being able to take this forward, Puri said addressing a select gathering at India House here. The minis

Analysts expect fuel prices to go up if global prices rise further

Brent crude oil prices remained near three-week highs of $92.9 per barrel as of late Thursday

Bringing BPCL sale back on the table

Retail oil price reform through direct subsidy transfers should be considered

Centre launches indigenously-developed aviation fuel AVGAS 100 LL

Puri said that the launch is important to serve the needs of a thriving aviation industry with increase in footfall at airports, rise in number of aircraft and for pilot training in future

Reports of request for windfall tax review misleading: Oil ministry

The Ministry has not however categorically denied making a request to exempt certain oil blocks

India set to become $10 trillion economy by 2030, says Hardeep Singh Puri

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said that India is on the path to becoming a $10 trillion economy in 2030 and the third largest economy in the world by 2047

Divestment of BPCL off the table for now, says Hardeep Singh Puri

The plan to offload the Centre's 52.98 percent stake in the oil major could not go forward as there was not sufficient number of bids

Oil minister Hardeep Puri hopeful of reviving West Coast Refinery project

With BJP in power in Maharashtra, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday expressed hope of reviving the stalled West Coast Refinery project, which if implemented, will be the largest in the world. The over Rs 3 lakh crore-project, also known as the West Coast Refinery project, was approved when the BJP-Shiv Sena government headed by Devendra Fadnavis was in power in the state. At that time, the government had also acquired some portion of the 15,000 acres of land needed for the 60-million-tonne per annum project. However, with the change of guard in the state after the 2019 polls and an alliance of the Shiv Sena-Nationalist Congress Party-Congress coming to power under Uddhav Thackeray, the project was shelved. Addressing an industry event on the energy technologies here, the minister said that though no concrete proposal has come to him yet from the state or from investors, he expects the project to get revived with the new political climate in the

Oil minister hints at reviving West Coast refinery project in Maharashtra

Oil minister Hardeep Singh Puri on Thursday hinted at reviving the stalled mega West Coast refinery project in Maharashtra. Addressing an industry event here, the minister said no concrete proposal has been come to him yet from the state or from investors. "We have sent feelers to all and the response so far has been good. The 60 million tonne per annum project can come up anywhere in Maharashtra or any other west coast state or even in a southern state and it need not be in Ratnagiri alone," Puri told reporters later. "We are also thinking of splitting the project to two or more locations but it would be best if the over Rs 3 lakh crore project can come up at a single location as originally planned," the minister said. The project was put on the back burner amid opposition from locals. The world's largest oil company Aramco of Saudi Arabia and UAE's Adnoc were keen to pick up considerable minority stakes in the project that was jointly floated by the three national oil companies

Top headlines: AI puts in place transformation plan;BPCL divestment stalled

The carrier, which plans to induct 30 new wide-body and narrow-body aircraft, on Thursday announced 'Vihaan.AI', a comprehensive transformation plan with a detailed road map for next five years

Crude oil output to go up substantially from next year: Petroleum Secy

Pankaj Jain's comments follows contracts signed by govt for 34 oil exploration blocks; minister Hardeep Singh Puri asserts energy crisis in Europe far worse than India

Hardeep Puri to lead delegation to global LNG meet in Milan on Monday

Gastech 2022 is the 50th edition of the largest global gathering focused on Liquified Natural Gas as a bridge fuel

PM Modi likely to inaugurate Central Vista Avenue between Sept 8-10: Report

Work was delayed due to several factors, including damage to newly installed systems during the Republic Day celebrations this year

Puri lauds govt's move to shift 1,100 Rohingyas to EWS flats in Delhi

Hardeep Singh Puri lauded the central government's decision to shift nearly 1,100 Rohingya refugees in Delhi to flats equipped with basic facilities and round-the-clock security

India to start supplying petrol with 20% ethanol from April 2023: Puri

India will start supplying petrol with 20 per cent ethanol at select petrol pumps from April next year and will ramp up supplies thereafter as it looks to cut oil import dependence

6.1 mn pucca houses made under Pradhan Mantri Awas Yojana: Puri to LS

A total of 6.1 mn all-weather 'pucca' houses, out of 12.2 mn houses, have been constructed or delivered to beneficiaries under the PMAY-U 'Housing for All' mission, Hardeep Singh Puri said

Gas prices can't be looked at in isolation: Puri on Rs 50 LPG price hike

A day after cooking gas LPG prices were hiked by Rs 50 per cylinder, Hardeep Puri said gas prices cannot be looked at in isolation and that fuel prices have been held steady despite volatility