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Hindustan Times
23-06-2025
- Business
- Hindustan Times
India has oil supplies to last several weeks, continues to receive energy from several routes: Minister
Global oil prices have jumped to their highest level since January after Israel struck Iran, in a dramatic escalation of tensions in the Middle East. (REUTERS) Check Offers India, the world's third-largest oil importer and fourth-biggest gas buyer, has enough energy supplies to meet requirements for several weeks and continues to receive supplies from several routes, Oil Minister Hardeep Singh Puri said amid escalating tensions in the globe's biggest energy supply regions. In a post on X, the minister said the government has been "closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks." "Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now," he said. The Strait of Hormuz, which Iran is threatening to shut down following US strikes on its nuclear facilities, is an important transit for oil coming from the Middle East. About 2 million barrels per day (bpd) of crude oil out of India's total import of 5.5 million bpd transits through the narrow waterway. However, India has diversified sources -- from Russia to the US and Brazil -- which can readily fill any void. Russian oil is logistically detached from the Strait of Hormuz, flowing via the Suez Canal, Cape of Good Hope, or the Pacific Ocean. Even the US, West African, and Latin American flows -- though costlier -- are increasingly viable backup options. "Our Oil Marketing Companies have supplies for several weeks and continue to receive energy supplies from several routes. We will take all necessary steps to ensure stability of supplies of fuel to our citizens," Puri said. Global oil prices have jumped to their highest level since January after Israel struck Iran, in a dramatic escalation of tensions in the Middle East. Rates of the benchmark Brent crude were up more than 10 per cent to USD 77 a barrel. India imports more than 85 per cent of its crude oil needs and roughly half of its natural gas requirement. More than 40 per cent of the oil imports and half of gas imports come from the Middle East. Despite the spike on Friday, oil prices are still more than 10 per cent lower than where they were at the same point last year. They are also well below over USD 100 a barrel rate seen in early 2022 following Russia's invasion of Ukraine. Russia is India's largest supplier of crude oil, which is refined into fuels like petrol and diesel in refineries. Qatar is India's biggest supplier of natural gas, which is used to make fertilisers, generate electricity, and turned into CNG to run automobiles and piped to household kitchens for cooking. Get insights into Upcoming Cars In India, Electric Vehicles, Upcoming Bikes in India and cutting-edge technology transforming the automotive landscape. First Published Date: 23 Jun 2025, 09:30 AM IST
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Business Standard
22-06-2025
- Business
- Business Standard
India has weeks of oil supply, imports continue via many routes: Puri
India, the world's third-largest oil importer and fourth-biggest gas buyer, has enough energy supplies to meet requirements for several weeks and continues to receive supplies from several routes, Oil Minister Hardeep Singh Puri said amid escalating tensions in the globe's biggest energy supply regions. In a post on X, the minister said the government has been "closely monitoring the evolving geopolitical situation in the West Asia since the past two weeks." "Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now," he said. The Strait of Hormuz, which Iran is threatening to shut down following US strikes on its nuclear facilities, is an important transit for oil coming from the West Asia. About 2 million barrels per day (bpd) of crude oil out of India's total import of 5.5 million bpd transits through the narrow waterway. However, India has diversified sources -- from Russia to the US and Brazil -- which can readily fill any void. Russian oil is logistically detached from the Strait of Hormuz, flowing via the Suez Canal, Cape of Good Hope, or Pacific Ocean. Even the US, West African, and Latin American flows -- though costlier -- are increasingly viable backup options. "Our Oil Marketing Companies have supplies for several weeks and continue to receive energy supplies from several routes. We will take all necessary steps to ensure stability of supplies of fuel to our citizens," Puri said. Global oil prices have jumped to their highest level since January after Israel struck Iran, in a dramatic escalation of tensions in the Middle East. Rates of the benchmark Brent crude were up more than 10 per cent to $77 a barrel. India imports more than 85 per cent of its crude oil needs and roughly half of its natural gas requirement. More than 40 per cent of the oil imports and half of gas imports come from the Middle East. Despite the spike on Friday, oil prices are still more than 10 per cent lower than where they were at the same point last year. They are also well below over $100 a barrel rate seen in early 2022 following Russia's invasion of Ukraine. Russia is India's largest supplier of crude oil, which is refined into fuels like petrol and diesel in refineries. Qatar is India's biggest supplier of natural gas, which is used to make fertilisers, generate electricity, and turned into CNG to run automobiles and piped to household kitchens for cooking.
Time of India
22-06-2025
- Business
- Time of India
India's oil supply chain safe from Hormuz closure: Puri
NEW DELHI: India's oil supply chain remains stable as a result of diversification in the last few years, oil minister Hardeep Puri said on Sunday as Iran's Parliament passed a motion calling for blocking the Strait of Hormuz, the critical choke point accounting for a fifth of global seaborne oil and a third of LNG shipments. 'We have been closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks. Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now,' he said in a post on microblogging site X. Indeed, latest data from analytics firm Kpler showed Indian refiners pivoting away from the Middle-East since the outbreak of hostilities between Israel and Iran stoked fears of Hormuz closure. In June, for example, oil imports from Russia and the US outpaced combined volumes of from traditional Middle East suppliers such as Iraq and Saudi Arabia. India currently imports oil from 13 countries. India does not buy any oil from Iran. But Hormuz is still crucial for India as 40% of its oil imports still passes through this narrow waterway between Iran and Oman. Puri, however, assured citizens on supplies. 'Our Oil Marketing Companies have supplies of several weeks and continue to receive energy supplies from several routes. We will take all necessary steps to ensure stability of supplies of fuel to our citizens,' he said. India currently imports oil from 13 countries. India does not buy any oil from Iran. But Hormuz is still crucial for India as 40% of its oil imports still passes through this narrow waterway between Iran and Oman. The last word depends on Iran's Supreme Council, which has to approve the Parliament motion. Closure of Hormuz could lead to an upheaval in global oil trade and spike in crude prices since the alternative routes for evacuation of Middle-East oil is limited to about 2-3% of daily global supplies. The strait last effectively closed during the Iran-Iraq 'Tanker War' in 1984.
Indian Express
22-05-2025
- Business
- Indian Express
Amrit Bharat Station Scheme: PM Modi launches 103 stations across 18 states — all you need to know
Amrit Bharat Station Scheme: On Wednesday, May 22, Prime Minister Narendra Modi, inaugurated 103 Amrit Bharat stations in 18 Indian states. This initiative aimed at modernising and boosting the infrastructure of railway networks across the country, with each station undergoing a customised development process, implemented in phases based on individual needs. विरासत भी, विकास भी! 🚉 PM @narendramodi Ji's vision is to redevelop railway stations. 🧵103 Amrit Stations for superior passenger experience👇🏻 — Ashwini Vaishnaw (@AshwiniVaishnaw) May 20, 2025 The enhancements will focus on making railway infrastructures cleaner, more comfortable, and user-friendly by concentrating on key areas such as entry and exit points, waiting rooms, restrooms, platforms, and roofing. Additionally, the project will incorporate modern facilities, including lifts, escalators, and complimentary Wi-Fi, along with dedicated measures to ensure accessibility for individuals with disabilities The Amrit Bharat Mission aims to improve station infrastructure, enhance connectivity within urban areas, and integrate railway stations with other modes of transportation, such as buses and metro systems. This scheme goes back to 2021, when the Gandhinagar station became the first to undergo extensive modernisation, featuring advanced facilities and a five-star hotel. Overall, the Amrit Bharat Stations scheme represents a significant move by Indian Railways to modernise its infrastructure and improve the travel experience for millions of passengers across the country. *Inputs from PIB
Deccan Herald
12-05-2025
- Politics
- Deccan Herald
PM Modi proven no enemy of Bharat can go unpunished: Amit Shah
PM Shri @narendramodi Ji today demarcated the boundary for Bharat's enemies through the example of #OperationSindoor, in which our armed forces razed the very edifice of terrorism in Pakistan's backyard. Our armed forces have made Pakistan shudder with their might and set a new…
