HOME > MARKETS > ECONOMY NEWS
  ECONOMY NEWS
ECONOMY
India expands crude import sources from 27 to 40 countries: Petroleum & Natural Gas Minister
Jul-18-2025

Handling concerns over India’s energy security posture amid global geopolitical disruptions such as the Russia-Ukraine conflict and tensions in the Middle East, Petroleum and Natural Gas Minister Hardeep Singh Puri has said that India had proactively expanded its crude import sources from 27 to 40 countries. He noted that this diversification is a key measure to ensure uninterrupted energy access during periods of global turbulence. 

On the topic of Russian oil imports, he said that Russia remains one of the world’s top oil producers with an output exceeding 9 million barrels per day. He warned that a sudden removal of this supply from the global market - out of a total of approximately 97 million barrels per day - would have created chaos, pushing prices to between $130-$200 per barrel. 

Besides, Puri stated that India has never purchased any sanctioned cargo and that Russian oil was not under global sanctions but only a price cap, carefully structured to reflect ground realities of the international energy supply chain. He credited Prime Minister Narendra Modi’s leadership for India’s proactive and balanced approach, which has made the country a net stabilising force in global energy markets.

On the domestic front, Petroleum and Natural Gas Minister underlined the crucial role played by State governments in facilitating energy development projects. He called for mutual accountability and stronger Centre-State cooperation, adding that States that enable faster energy infrastructure should be celebrated as models of good governance.


  RELATED NEWS >>