India resilient to navigate world turbulences, extra crude coming from Western Hemisphere: Petroleum Minister Hardeep Puri

India has developed resilience to navigate world turbulences, Petroleum Minister Hardeep Singh Puri stated on Tuesday (September 16, 2025), including that this has been bolstered by “increasingly” crude oil coming into the worldwide market from the Western Hemisphere, and extra fuel anticipated to enter the market from 2026-27 onwards.

Referring to the current geopolitical situation, the Petroleum Minister, talking at KPMG’s annual vitality conclave ENRich 2025 acknowledged that whereas the world was present process turbulence, “we [India] take care of the problems that we’ve got direct management over however at the moment we’ve got resilience to navigate them as a result of partly as a result of there may be sufficient oil obtainable on the planet”. 

India and its oil sector discover themselves mired in a broader geopolitical setting triggered by U.S. President Donald Trump’s 50% tariffs imposed on Indian merchandise this July. It additionally entailed a 25% penalty for procuring crude from Russia. Notwithstanding a possible understanding in sight with Washington’s chief commerce negotiator Brendan Lynch assembly his Indian counterpart Rajesh Agrawal on Tuesday, India’s continued procurement of Russian oil continues to be a degree of rivalry between India and the U.S.  

Other than the geopolitical currents, Mr. Puri additionally took be aware of India’s present refining capability. He acknowledged that India’s refining capability is the fourth largest on the planet. Additionally, he estimated, “we’ll very quickly improve our present refining capability from about 260-270 million metric tonnes each year (MMTPA) with preparations in place to extend it to 320 MMTPA”. 

Developing strategic reserves

Speaking on the similar occasion, Prasad Panicker, exective chairman at privately-owned refiner Nayara Energy stated Indian refineries have sufficient resilience to navigate the geopolitical currents. “We need to anticipate lots of disturbance in provide chains, know-how switch and the sort [being supplied] however our refineries are vastly versatile the place various kinds of crude will be processed,” he acknowledged.  

However, he added India requires extra strategic reserves to make sure world currents don’t set off an instantaneous affect.

“When I say strategic reserves, it shouldn’t be for crude alone, there are important chemical substances and catalysts, amongst different issues, which should be enough to make sure operations are usually not impacted,” he acknowledged. “On a long-term, we’ve got to create an ecosystem the place they’re indigenously obtainable. It is unhappy regardless of our refining capability we’ve got to purchase them from overseas. This would guarantee we’ve got enough resilience going ahead.”