Energy outreach: Oil minister Hardeep Singh Puri pitches India's growth story to oil majors; Opec ties, LNG push top agenda

Time of India

6 days ago

Oil minister
Hardeep Singh Puri
met top global energy leaders on the sidelines of the 9th
Opec
International Seminar in Vienna, holding bilateral discussions to bolster India's energy security and expand partnerships across the hydrocarbons value chain, according to an official statement.
During his meeting with Kuwaiti Oil Minister and KPC Chairman Tareq Sulaiman Al-Roumi, Puri explored ways to deepen cooperation, PTI reported.
Kuwait is India's 6th largest source of crude oil, 4th largest LPG supplier, and the 8th biggest hydrocarbon trade partner.
In a separate meeting with Nigerian Minister of State for Petroleum Resources Heineken Lokpobiri, the two sides discussed boosting crude trade. 'Indian companies have been consistent buyers of Nigerian crude, and the discussions focused on exploring avenues to further expand hydrocarbons trade between the two nations and reinforce the longstanding partnership,' the statement said.
The minister also met Shell CEO Wael Sawan to discuss collaborations in oil and gas exploration. 'Puri underlined that India's efforts to increase the share of natural gas in its energy mix from 6 per cent to 15 per cent present significant opportunities for advanced technological partnerships. He noted that the drive towards greater exploration and production (E&P) activity stands to benefit from Shell's cutting-edge technologies, paving the way for mutually beneficial collaborations that support India's energy security objectives,' it said.
In his interaction with Opec Secretary General Haitham Al Ghais, Puri reaffirmed India's long-standing partnership with the oil producers' group. 'They discussed India's strong partnership with Opec and ways to ensure that oil markets remain balanced and predictable to support smooth global transition into green and alternative energies, particularly in light of recent geopolitical challenges. As the world's 3rd largest importer of oil, India and Opec, the grouping of major oil producers, share a unique and symbiotic relationship,' the statement said.
Talks with BP CEO Murray Auchincloss focused on expanding the global major's participation in India's upstream and downstream sectors. BP already has significant presence across India's energy chain and has participated in past bid rounds.
Puri also met Vitol Group CEO Russel Hardy to review market challenges and explore avenues for collaboration. 'Puri noted the vast collaboration opportunities arising from India's unprecedented thrust towards expanding and enhancing energy infrastructure — including exploration and production, refining, and gas-based energy transition,' the statement said.
India meets more than 85 per cent of its oil demand through imports and also relies heavily on imported natural gas to fuel its fast-growing economy.
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