Russian oil contributing to India’s energy security

The government of India is taking all the steps, to ensure the security of crude supplies and mitigate the risk of crude oil dependence on a single region.

Replying to questions posed on India-Russia relations in Rajya Sabha by Kerala MP Jose K Mani on Thursday, Minister of State for External Affairs Meenakshi Lekhi also said that no inter-governmental agreement has been signed with Russia in 2022.

Mani asked whether the US has registered any protest against India for purchasing crude and natural gas from Russia to which Lekhi replied that New Delhi is regularly engaged with Washington on a wide range of issues, including India’s energy security.

On the issue of whether Russia would provide India with petroleum products/crude oil at a price lower than the price rate of OPEC countries, the Minister emphasised again that import of crude is carried out by Indian oil and refining companies in the public and private sector from diverse sources through business to business arrangements, based on techno-commercial considerations and domestic requirements.

Lekhi also mentioned that oil PSUs have diversified their petroleum basket and are procuring crude from countries located at various geographical locations viz. Middle East, Eurasia, North America, South America, etc.

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