New Delhi:
Highlighting that India has diversified its sources of oil supply for cheap purchases, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said that the country is now importing oil from 39 countries against 27.
“India has diversity in its sources of oil supply, earlier we were importing crude oil from 27 countries, now we are importing from 39 countries. If I can buy something from some source and I am cheaper If I can buy at the price, we are the winners, “Puri said in a BBC interview, which he shared on X in his social media post.
The Union Minister’s comment comes when India is getting ready to host the world’s second largest energy program, India Energy Week (IEW), which is scheduled to be held in Delhi from 11-14 February.
On the purchase of cheap oil, the minister said, “We have brought diversity in our sources of supply, which were 27 countries and we are now importing from 39 countries. But today no external oil is in the grip. The international market I am getting more oil. “
The minister further said that the International Energy Agency (IEA) is correct about the increase in total demand in the next two decades, “25% will come from India. They are completely correct. But today there is more oil in the market, so There are about to take. “
The Union Minister also clarified that India is not buying cheap oil from Russia against the wishes of the United States.
“This is not against the wishes of the United States. Let me tell you. What did the United States tell us and told many others, they wanted them to buy as much oil from Russia as we like. , As long as we bought it at a reasonable price and it was music in my ears.
“Let me share what has really happened. Russian energy is never banned. Russian oil is coming or gas coming through a pipeline for Hungary has been given discounts with all. Russian energy Japan is undergoing a pipeline and exempted. Today Europe is also buying its gas from Russia and I can buy it at a cheaper price, we are the winners.
The main point for notice is coming to the global market more oil, mostly from the Western Hemisphere, then that oil is required. Therefore, whenever there is a situation of availability of oil, vulnerability does not arise.
In the report of ‘Indian Oil Market Outlook to 2030’ released in the second edition of India Energy Week 2024 in Goa, India mentioned that India will become the biggest source of global oil demand, while growing economies and China starts slowly slowing down. Goes and then it will slow down later. It turns upside down.
Meanwhile, IEA is set to share insight on India’s oil and gas sector during the third edition of India Energy Week (IEW) in the national capital from February 11.
In addition, the IEW Petroleum Export countries (OPEC) organization will also witness the sharing of market insight. The heads of IEA and OPEC are reaching India to participate in the second largest energy program globally. Noboo Tanaka, Executive Director Emeritus, International Energy Agency (IEA) will share its insight on India’s energy demand.
On the two days of the IEV, there is a session on the World Oil Outlook (WOO), one of the major publications of OPEC, combining the expertise of OPEC Secretariat and professionals in OPEC member countries.
The 18th edition of Wu will probably examine the demand for energy and oil, oil supply and refinement, global economy, policy and technology, demographic trends, environmental issues and development in development.
OPEC head Hatham Al Gais, Director of OPEC, Research Division Ad al-Khatand Ebardarezak Benusf Head, Energy Studies Department, Research Division of OPEC also to share their insight on OPEC’s commitment to OPEC’s knowledge-sharing and data transparency Will be
(Except for the headline, the story has not been edited by NDTV employees and is published by a syndicated feed.)
[ad_1]
Source link