India has the freedom to take its own decisions for energy security

Jaipur: ‘OPEC Plus countries have decided to reduce fuel production. These countries have the freedom and sovereign right to make this decision. The results will definitely be seen. India has the capacity to deal with the situation,’ said Union Petroleum Minister Hardeep Singh Puri. Hardeep Singh Puri added that India would also take necessary steps for its energy security.

The ‘South Asian Geosciences Conference’ (GEO India 2022) has been organised in Jaipur. Geologists from America, Norway, Britain and other European countries have participated in this. The three-day conference will discuss research on natural gas and fuel oil, and the ongoing energy transition to a changing world. The Union Petroleum Minister was speaking at the conference. ‘India is taking steps to keep in mind the future energy needs. With this in mind, India has started its efforts to diversify its energy sources. More diversification will be brought in the energy sources if the need arises,’ underlined Hardeep Singh Puri on occasion. While speaking in this regard, Petroleum Minister Puri presented the statistics of India’s fuel imports in the last six months. A few months ago, Saudi Arabia was India’s number one fuel supplier and Iraq was second in the list. But this situation has changed now. Stating that this means India takes its own energy decisions, the Petroleum Minister has said that India will not compromise on this front.

OPEC Plus, a group of oil exporting countries, recently decided to cut oil production by 20 lakh barrels per day. This decision to cut fuel production will increase fuel prices and adversely affect the global economy.

Puri, however, made it clear that India would not oppose the move, saying that OPEC countries have the freedom to take their decisions and it is their sovereign right. But this decision will not lead to a shortage of fuel in India. Puri added that necessary decisions would be taken for India’s energy security and affordable energy source. Decisions taken by other countries cannot be imposed on Indian consumers.

It is the responsibility of the Government of India to ensure the availability of fuel and energy resources at affordable prices to Indian consumers. Therefore, considering this, India has no regrets about its decisions earlier regarding the purchase of fuel, said the petroleum minister. India did not succumb to the pressure of the US and Western countries not to buy fuel from Russia. Puri indirectly pointed out that India took the decision keeping the country’s interest in mind.

Petroleum Minister Puri also cited the discussions that took place during the meeting during his recent visit to the US. This time no one told us not to buy fuel from Russia. India will buy fuel from the countries from which it wants to buy fuel. Because no one can make such a demand considering India’s fuel demand and the number of users, said Puri. Also, India’s fuel demand is going to increase further. India will account for 25 per cent of global fuel consumption in the next 20 years. Due to this, the Government of India has decided to liberalise the research and production sector, Puri has highlighted.