Puri Engages Global Energy Leaders to Enhance India's Energy Partnerships and Address Needs

Oil Minister Hardeep Singh Puri engaged with global energy leaders during the 9th OPEC International Seminar in Vienna. The discussions aimed to enhance India's energy partnerships and address its energy needs, according to an official statement. India, as the third-largest oil consumer globally, relies heavily on imports, with over 85% of its oil and about half of its natural gas needs being imported.

Puri met with Tareq Sulaiman Al-Roumi, Kuwait's Oil Minister and chairman of Kuwait Petroleum Corporation (KPC), to explore ways to strengthen their existing partnership. Kuwait is a significant partner for India, ranking as the sixth-largest source of crude oil and fourth-largest source of LPG. It is also India's eighth-largest hydrocarbon trade partner, underscoring the strategic importance of this relationship.

Strengthening Energy Partnerships

In another meeting, Puri held discussions with Nigerian Minister of State for Petroleum Resources Heineken Lokpobiri. Indian companies have been consistent buyers of Nigerian crude oil. The talks focused on expanding hydrocarbons trade between the two countries and reinforcing their longstanding partnership.

Puri also had a brief meeting with Shell CEO Wael Sawan. They discussed potential collaborations in oil and gas exploration, especially as India offers a record acreage in the latest bid round. Puri highlighted India's goal to increase natural gas in its energy mix from 6% to 15%, presenting opportunities for advanced technological partnerships.

Collaborations with Global Energy Leaders

The minister met OPEC Secretary General Haitham Al Ghais to discuss India's strong partnership with OPEC. They focused on ensuring balanced and predictable oil markets to support a smooth transition into green and alternative energies amid geopolitical challenges. As the third-largest oil importer, India shares a unique relationship with OPEC.

During his meeting with BP CEO Murray Auchincloss, Puri continued discussions on strengthening BP's partnership in India's upstream and downstream energy sectors. BP has a comprehensive engagement in India across the energy value chain and participated in previous bid rounds.

Opportunities in Energy Infrastructure

Puri also met Vitol Group CEO Russel Hardy to discuss current challenges in global energy markets and collaborations across the hydrocarbons value chain. He noted the vast collaboration opportunities arising from India's push towards expanding and enhancing energy infrastructure, including exploration, production, refining, and gas-based energy transition.

The meetings highlighted India's strategic efforts to secure its energy future through international partnerships. By engaging with key global players, India aims to bolster its energy security while transitioning towards sustainable alternatives.

With inputs from PTI