New Delhi, 13 June (PTI) India, the third largest oil importer in the world and the fourth largest gas buyer has enough energy supplies for the coming months, the Minister of Oil Hardeep Singh Puri said that in the middle of the growing tension in the largest regions of energy supplies.
In the paper on X, the Minister stated that he made a regular overview of the Energy Availability scenario with the Indian oil industry captains.
“The Indian energy strategy is formed by successful navigation to the energy availability, availability and sustainability,” he said. “We have the corresponding energy supplies for the coming months.”
Global oil prices jumped to the highest level from January after Israel struck Iran in a dramatic escalation of tensions in the Middle East.
Benchmark Bent Benchmark was more than 10 percent shortly after the news appeared, but a little alleviated. Brent traded nearly $ 75 per barrel, which is more than 5 percent during Thursday’s closure.
India imports more than 85 percent of its oil needs and about half of their natural gas requirements. More than 40 percent of oil imports and half of the gas import comes from the Middle East.
Despite the increase on Friday, oil prices are more than 10 percent lower than where they were at the same point last year. They are also significantly below $ 100 per peace of the barrel, which was observed at the beginning of 2022 after the Russian invasion of Ukraine.
Russia is the largest Indian oil supplier, which is refined to fuel such as gasoline and diesel in refineries. Qatar is the largest Indian supplier of natural gas, which is used to produce fertilizers, electricity production and converted into CNG to operate cars and tie for cooking kitchens for households.
(Tagstotranslate) India
