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India Sees Oil Challenges As Opportunity For Affordable Energy

OIL

India hopes to convert the current global oil challenges into an opportunity to secure affordable energy according to Oil Minister Hardeep Singh Puri yesterday. India has already diversified its supply of crude oil this year and is not solely reliant on Russian purchases

  • India imports about 85% of its oil requirements and has significantly increased imports of cheaper Russian crude this year. India now sources crude from 39 countries compared to 27 last year with the main supplies of Iraq, Saudi Arabia, UAE, Kuwait and Russia.
  • "At this time, the worry is not about from where we will get energy," Puri said at a broadcaster Times Now summit.
  • "It is a global challenge but we have and we will convert this into an opportunity. And I don't foresee any difficulty in procuring energy and securing at affordable prices."
Energy BulletsCommodities
Energy BulletsCommodities

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