India Has Adequate Energy Supplies Amid Global Oil Price Surge: Hardeep Puri

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has assured that India has sufficient energy supplies to meet its needs in the coming months. The update comes in the wake of rising global concerns following a sharp increase in international oil prices, triggered by the recent Israeli attack on Iran.

The minister shared this assurance through a social media post, following a high-level review meeting held on Friday. The meeting was attended by the Petroleum Secretary and senior executives from India’s energy public sector undertakings (PSUs).

Energy Security a Key Focus

Highlighting India’s preparedness, Mr. Puri emphasized that the country’s energy strategy is firmly anchored in managing the “trilemma of availability, affordability, and sustainability.” He credited this balanced approach to the “dynamic leadership of Prime Minister Narendra Modi.”

Heavy Reliance on Imports

India remains one of the world’s largest energy consumers and imports over 80% of its crude oil, amounting to around USD 150 billion annually. The current assurance of stable supply is seen as critical amid volatile geopolitical developments that are impacting oil markets globally.

Amidst tensions in the Middle East and their potential impact on global supply chains, India’s energy ministry is closely monitoring the situation and has put in place contingency measures to ensure uninterrupted energy access for industries and consumers.

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