Betul: From pirate attacks off Somalia to the Red Sea crisis, from the Russia-Ukraine conflict to Middle East tensions, India successfully converted every geopolitical challenge into an opportunity by diversifying its energy sources and accelerating the green fuel transition, petroleum minister Hardeep Singh Puri said on Friday.
“Each challenge has been converted into an opportunity both in terms of diversification of sources of supply. From 27, we are buying from more than 40 countries,” Puri said, pointing to India’s strategic response to global energy uncertainties over the past five years. He was speaking at the closing fireside chat at the India Energy Week at Betul, Goa, alongside secretary for ministry of petroleum and natural gas Neeraj Mittal.
Highlighting India’s growing global standing as the world’s third-largest energy consumer, fourth-largest refiner, and fifth-largest exporter, Puri said that the country continues to take centrestage in global energy discourse while shielding its massive consumer base from international market volatility.
“And I think we’re very well equipped both in terms of ensuring availability, affordability, and sustainability,” he said Puri pointed out that despite unprecedented global turmoil, India has maintained one of the lowest energy prices worldwide.
Mittal outlined govt’s comprehensive approach, built on two main pillars. The first, he said, focuses on strengthening domestic exploration and production, with the Prime Minister setting ambitious drilling targets to achieve self-reliance through major discoveries.
“We are working towards making India an efficient supplier of finished products globally while integrating our refineries to produce petrochemicals for value addition,” Mittal said.
The second pillar emphasises leveraging technology—digitalisation and AI—to optimise operations and reduce costs across the sector.
On biofuels, Mittal said, India is targeting 5% CBG blending in city gas distribution networks by 2030.
Govind Kamat Maad, principal correspondent at The Times of India,...
Read MoreGovind Kamat Maad, principal correspondent at The Times of India, covers south Goa. He has a passion for investigative journalism. Possessing a technical background, he enjoys treading along offbeat tracks. His hobbies include travelling, reading and swimming.
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