Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, has suggested that India may soon see a greater supply of oil and gas from the United States. This possibility stems from the Trump administration’s strategy to ramp up domestic oil and gas production. India, already diversifying its energy sources, welcomes the prospect of more US energy, particularly as the country seeks stability in global fuel prices.
During a recent event organized by the Society of Indian Automobile Manufacturers (SIAM), Puri shared that the number of countries supplying oil to India has risen from 27 to 39, and if US energy becomes a more prominent part of the mix, it will be embraced.
US Oil and Gas Production Surge
Puri confirmed that more US oil and gas are likely to enter the global market. With President Donald Trump’s administration focusing on maximizing oil drilling and gas production, the potential for increased energy exports to India is high. Puri noted that the US’s energy strategy aligns with India’s goal of expanding its oil supply options.
“More oil is coming, and it’s a positive development for India,” Puri said. He highlighted India’s proactive stance in sourcing energy globally, noting visits to Brazil, where India is exploring opportunities in offshore activities, and collaborations with Argentina’s national oil company, YPF.
Global Energy Landscape: No Shortage, Possible Price Drop
Puri assured that the global oil market isn’t facing a shortage of supply, with more oil expected from key players like the US, Brazil, Guyana, Suriname, and Canada. He also hinted at the likelihood of falling oil prices, thanks to the surge in supply.
“Oil prices will respond to the increased availability,” Puri stated, reinforcing that there’s no immediate concern about supply shortages in the market.
India’s Strategic Energy Position
India, under the current administration, is actively monitoring the developments in the US energy sector. Puri emphasized that the country will take a measured approach, awaiting more clarity on the new US administration’s policies.
Puri also refrained from commenting on the Trump administration’s decision to exit the 2015 Paris climate agreement, a move that has stirred global debate.
Transitioning to Greener Energy: India’s Ethanol Future
On the energy front, Puri pointed out India’s rapid progress in ethanol blending, a key component of the country’s efforts to reduce its dependence on fossil fuels. India is set to achieve 20% ethanol blending in its fuel mix, five years ahead of schedule, thanks to strong policy support and the development of a sustainable ecosystem.
The minister also raised the question of going beyond 20% ethanol blending, which could involve deeper agricultural and industrial linkages. As part of this transition, Puri urged automakers to ramp up the availability of flex-fuel vehicles in India.
A Bright Energy Future for India
India’s energy future looks promising, with diverse sources of oil and gas becoming increasingly accessible. The country’s strategic focus on global energy collaborations, ethanol blending, and the push for greener transportation solutions signal a transition to a more sustainable and energy-secure future.
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