New Delhi: Union Minister for Petroleum and Natural Gas Hardeep Singh Puri co-chaired the 7th High-Level India-OPEC Energy Dialogue with OPEC Secretary-General H.E. Haitham Al Ghais in New Delhi.
Puri said the discussions were candid and constructive, reaffirming the strength of the India-OPEC partnership while identifying new avenues for cooperation. The dialogue assumes added significance amid ongoing geopolitical disturbances involving major energy-producing countries and disruptions to global supply chains.
The Minister highlighted India’s growing role in the global energy landscape, stating that under the leadership of Prime Minister Narendra Modi, India is emerging as a key driver of global energy demand and an important contributor to energy security, particularly across the Global South.
The discussions also focused on how India navigated the recent energy shock affecting several parts of the world. Despite the challenges, India maintained a steady supply of affordable and sustainable fuels for its citizens, Puri said.
India has also continued to provide a stable and reliable market for hydrocarbons from OPEC member countries, while simultaneously expanding its domestic refining capabilities.
Puri highlighted that India recently commissioned an integrated refinery-cum-petrochemical complex with a capacity of 9 million metric tonnes per annum (MMTPA). With this addition, the country’s total refining capacity has reached approximately 267.1 MMTPA.
India has set its sights on taking refining capacity further to 300.5 MMTPA by 2030, strengthening its position in the global energy market and supporting its ambition to emerge as a global refining hub.
The India-OPEC dialogue underlined the importance of continued cooperation in ensuring energy security, stable supplies and resilient global energy markets amid a rapidly changing geopolitical and economic environment.