India Poised to Tackle Global Challenges, Boosts Crude Imports from West: Minister Puri

swift Summary

• Union Minister of petroleum and Natural Gas, hardeep Singh Puri, highlighted India’s resilience amidst global turbulence during KPMG’s energy conclave ENRich 2025.
• He noted that increasing crude oil availability in the global market from the Western Hemisphere and anticipated gas expansion in 2026-27 bolster India’s energy security.
• India faces geopolitical challenges stemming from U.S. tariffs on Indian products (50%) and penalties for crude procurement from Russia (25%).
• Refining capacity in India is reported as fourth largest globally, wiht plans to upgrade it from ~270 MMTPA to 320 MMTPA.
• Prasad Panicker (Nayara Energy) emphasized India’s robust refining capabilities but underscored the need for enhanced strategic reserves including chemicals and catalysts to ensure operational resilience.

Indian Opinion Analysis

India’s strengthening of resilience mechanisms within its energy sector reflects strategic foresight amid a volatile global geopolitical landscape. The increasing availability of crude oil and upcoming expansions in natural gas supply are positive indicators for safeguarding energy stability. However, U.S.-India tensions over tariffs and Russian oil procurement exemplify ongoing diplomatic balancing.

While robust refining capabilities signify technological progress, Panicker’s call for indigenous production of essential components highlights an area for improvement that could reduce external dependencies. Enhancing strategic reserves would serve as a proactive measure shielding critical operations against future uncertainties-a crucial consideration given India’s central role in global energy consumption patterns.

Read more at: The Hindu