Page 9 - Hardeep Singh Puri

India will do all that is required to ensure energy security: Hardeep Puri

Reacting to the decision of Organization of Petroleum Exporting Countries (OPEC) to cut oil production by 2 million barrels per day, Union Minister Hardeep Singh Puri on Friday said India will do all that is required to ensure its energy security and affordability. He said if required, India will go for diversification of energy sources. "This is their (OPEC's) sovereign right what they want to do but equally it is my job to point out that all actions have consequences, intended or unintended. India will be able to navigate through the situation with confidence," the petroleum and natural gas minister said at GEO India 2022 conference here. "We will not allow any shortages to come in. The government will do all that is required to ensure energy security and affordability," he said. Puri said as per the estimate of the sector, consumption of fuel will increase and 25 per cent of the global demand in next 20 years will be from India. Therefore, he said, the prime minister took the .

Govt okays Rs 22,000 crore one-time grant for OMCs to battle losses

This will help them tide over continuing losses in providing domestic liquified petroleum gas

India to cater to 25% of global energy demand in next 20 yrs: Hardeep Puri

Petroleum Minister Hardeep Puri has said that 25 per cent of the global energy demand growth in the next two decades is going to emanate out of India.

Hardeep Puri flags Offshore Bid Round; promises transparency to investors

Union minister Hardeep Singh Puri on Monday launched the Offshore Bid Round offering and assured transparency, efficiency and ease of doing business to investors. In a keynote address to industry leaders in Houston, the Union Petroleum and Natural Gas Minister described the initiatives taken by his Ministry in accelerating the exploration and production activities in India. Puri also gave his views on the importance of Coal Bed Methane in increasing India's domestic production and reducing the country's import burden. He launched the Special CBM (popularly known as Coal Seam Gas) Bid Round - 2022 for International Competitive Bidding on Monday at Houston. Simultaneously, Puri launched the Offshore Bid Round offering 26 blocks -- 18 carved out by DGH and eight as a result of expression of interests (EoI) from potential investors -- covering an area of approximately 2.3 lakh Sq. Km. Out of 26 blocks, three blocks based on EoIs are onshore covering an area of only 3,666 sq km, a medi

Will weigh what Russia offers on Sakhalin-1 ownership revamp: Hardeep Puri

India maintains a "healthy dialogue" with Russia and will look at what is offered following announced ownership revamp to the Sakhalin-1 oil and gas project, Hardeep Singh Puri said

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