India weathered Hormuz disruption without fuel shortages: Puri
GST
Dated:- 7-8-2026
PTI
New Delhi, Aug 7 (PTI) India successfully shielded consumers from supply disruptions triggered by the closure of the Strait of Hormuz earlier this year through diversified sourcing, expanded refining capacity and higher domestic production, Oil Minister Hardeep Singh Puri said on Friday, while outlining the government's broader strategy to strengthen the country's energy security.
Addressing an industry event organised by the Confederation of Indian Industry (CII), Puri said India had moved beyond viewing energy security solely through the lens of access to hydrocarbons, citing diversified imports, strategic partnerships, infrastructure expansion and alternative fuels as key pillars of its approach.
“Today, I think we are in the happy situation of being able to say that, as far as India is concerned, we have moved on from that,” he said.
He said India maintained uninterrupted fu
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ulf suppliers affected by the disruption.
“We never ran short of crude oil supplies. We always had about 60 days (cover); there was no shortage,” he said.
Puri also said the US had emerged as India's largest supplier of LPG following the disruption.
“Today, I am happy to inform you that the United States accounts for something like 67 per cent of our LPG imports.” Looking beyond the immediate supply security, Puri highlighted the government's recently approved Rs 84,000 crore Samudra Manthan programme aimed at supporting deep-water oil and gas exploration.
“The government is not going to do the drilling. The drilling is going to be done by private players,” he said, adding that the government would support up to 50 per cent of drilling costs or up to Rs 650 crore per well to encourage investment in high-risk offshore exploration.
Puri said India had opened previously restricted offshore acreage for exploration and expected further opportunities under future licensing ro
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in India have largely come down. Why? Because the central government, thanks to very bold decision-making by the Prime Minister, decided to cut excise duty on fuel on three occasions in November 21, May 2022, and March 10, 2026.” He added that while retail petrol and diesel prices had risen modestly over a longer period, excise duty reductions had more than offset those increases.
“Yes, if you look at a slightly larger period, I think petrol prices went up by 4 or 5 per cent… But, if you compare that with the amount of excise duty cut, Rs 10 per litre on petrol and diesel, that's why India has one of the most affordable fuel rates in the world.” The minister cautioned that ongoing geopolitical conflicts continued to cloud the global energy outlook despite improvements in supply resilience.
“I think the new global order should be secure, smart, and sustainable.” He said India has so far been able to insulate itself from external shocks, but warned that geopolitical uncertain
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