OPEC: Union Minister assured, India will take all necessary steps to ensure its energy security

Posted on 14th Oct 2022 03:04 pm by rohit kumar

India will take all necessary steps to ensure its energy security and affordability. Union Petroleum and Natural Gas Minister Hardeep Singh Puri said this when asked about the decision of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production by 2 million barrels per day during an event organized in Jaipur on Friday. Where is it? He has said that India will diversify energy sources if needed.

 

"It (cutting production) is their sovereign right to do whatever they want to do, but it is also my job to point out that all such actions (intentional or unintentional) have consequences," Puri said at the GEO India 2022 conference here. India will be able to overcome the situation with full confidence.

 

 

“We will not allow any shortage of petroleum products. The government will make every effort to ensure energy security and affordability.

 

 

Puri said fuel consumption in the country will increase as per projections as 25 percent of global demand will be met from India in the next 20 years. That is why the Prime Minister has decided to open up the exploration and production sector. “We have diversified the sources from which we get energy and will diversify it further,” he said.

 

 

The Union Minister said that looking at the import data for the last six months, Saudi Arabia was the number one supplier and then Iraq became the second largest supplier but India has the freedom to take its own decision. "We will take our decisions and will not hesitate to diversify," he said.

 

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