Page 148 - CW E-Magazine (19-8-2025)

Hydrocarbons

from Middle Eastern producers through country’s energy security. If Russian the potential increase in the import bill
annual contracts, which allow fl exibility supplies were cut off , India could shift is signifi cant, India’s diversifi ed supply
to request additional supplies each month. back to its traditional Middle Eastern network and established contracts with
suppliers under existing annual deals, other oil-producing nations may help
India has further diversifi ed its oil ensuring fl exibility in meeting its cushion the impact. However, a rise
sources to about 40 countries. New sup- import needs, the SBI report stated. in global crude prices due to reduced
ply options have emerged from Guyana, Russian exports would still put upward
Brazil, and Canada, adding to the The report highlighted that while pressure on costs.
Oil Minister highlights growing energy self-reliance,

but fl ags import dependence

Union Minister for Petroleum and Biofuels 360 Summit’ in New Delhi We are going to do more in exploration
Natural Gas Hardeep Singh Puri recently recently. and production (E&P),” he said.
highlighted India’s strides in clean
energy and domestic fuel production, The Minister pointed to India’s Regarding natural gas, Minister
while acknowledging that the country liquefi ed petroleum gas (LPG) distri- Puri noted that domestic production is
still relies heavily on imports to meet bution as another example of progress witnessing healthy growth. “Our pro-
its growing energy needs. in energy access. “We have 33.5 crore duction is going up by 18 percent per
LPG connections in the country, in- year, but even there we are still import-
“We already have 113 compressed cluding 10.5 crore under the Ujjwala ing around 50 percent,” he said.
biogas (CBG) plants operating and Yojana, yet we still import about 60
another 73 under construction,” he said percent of our LPG,” he said. “A country like India, which has
on the progress of bioenergy and natu- these challenges, is moving in the
ral gas space. “If you look at the car While acknowledging the import direction of self-suffi ciency, but it’s
models coming onto the market, many dependency, Mr. Puri reaffi rmed that going to take time,” he stated.
new ones are CNG-compatible. So the country is taking decisive steps to
that’s a success story,” the minister told increase domestic production. “Our India today imports 80 percent of its
reporters on the sidelines of ‘Pioneer refi neries are going to produce more. oil and 50 percent of its natural gas needs.
ENSURING AFFORDABILITY
Cabinet approves Rs. 30,000-crore as compensation

to OMCs for LPG losses

Union Minister Ashwini Vaishnaw mind the current geopolitical scenarios signifi cant losses. Despite this, the
announced that the government has and uncertainties in oil and gas sector, public sector OMCs ensured continuous
approved Rs. 30,000-cr as budgetary Mr. Vaishnaw said. supplies of domestic LPG in the
support to three public sector Oil Mar- country at aff ordable prices.
keting Companies (OMCs) for under The distribution of the compensa-
recoveries. tion within the OMCs will be done by The announced compensation will
the Ministry of Petroleum and Natural allow the OMCs to continue meeting
The PSUs – Indian Oil Corporation, Gas. The compensation will be paid in their critical requirements such as
Bharat Petroleum Corp. Ltd. and Hin- twelve tranches, the government said. crude and LPG procurement, servicing
dustan Petroleum Corp. Ltd., supply of debt, and sustaining their capital
LPG cylinders at regulated prices to The international prices of LPG expenditure, thereby ensuring an un-
consumers. have remained high since 2024-25. To interrupted supply of LPG cylinders
prevent passing the burden of fl uctua- to households across the country, the
This support is given keeping in ting prices to consumers, OMCs bore government said in an announcement.

148 Chemical Weekly August 19, 2025

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