New Delhi: Union Minister for Petroleum and Natural Gas Hardeep Singh Puri extended his greetings to the entire IndianOil family on the occasion of IndianOil Day, highlighting the company’s contribution to India’s energy security and its role in protecting consumers from global energy disruptions.
Puri said that under the leadership of Prime Minister Narendra Modi, India’s energy sector, supported by its Maharatna Public Sector Undertakings (PSUs), has been playing a crucial role in ensuring reliable and affordable energy supplies while helping maintain stability in the domestic market amid continuing global uncertainties.
The Minister praised India’s Oil Marketing Companies (OMCs) for absorbing the impact of international disruptions and rising costs while continuing to maintain uninterrupted fuel supplies. He pointed out that not a single retail outlet ran dry, despite challenges affecting global energy supply chains.
According to Puri, OMCs such as IndianOil have also helped shield millions of consumers from the impact of international price shocks by keeping domestic fuel prices stable despite mounting input costs.
He specifically noted that Indian energy companies successfully cushioned consumers against supply-chain disruptions linked to the situation around the Strait of Hormuz, one of the world’s most strategically important energy routes.
IndianOil’s expanding infrastructure is strengthening access to energy across the country. The company currently operates 42,818 retail outlets and more than 2,600 CNG stations, enabling it to serve consumers across urban as well as remote parts of India.
Puri also highlighted IndianOil’s continued investment in the country’s energy infrastructure. The company has invested more than ₹30,000 crore annually over the past five years, while maintaining financial discipline and strengthening its capabilities to meet India’s growing energy requirements.
The Minister’s message comes at a time when global geopolitical tensions and disruptions to major energy routes continue to pose challenges for energy-importing economies. India’s strategy has therefore focused on diversifying supplies, maintaining adequate stocks, strengthening domestic infrastructure and ensuring affordable energy for consumers.
In essence, Hardeep Singh Puri said IndianOil and other OMCs have acted as a crucial buffer against global energy shocks, combining uninterrupted supplies, stable domestic prices and large-scale infrastructure investment to strengthen India’s journey towards long-term energy security.