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Informist, Thursday, Jul. 10, 2025

 

NEW DELHI – India has opened nearly 250,000 square kilometres onshore and offshore for energy exploration and production under the tenth round of its Open Acreage Licensing Policy, Petroleum Minister Hardeep Singh Puri said at the ninth international seminar of the Organization of the Petroleum Exporting Countries in Vienna, Austria, according to a release. Describing it as one of the world's largest bidding rounds, Puri invited global energy firms to partner in India's upstream expansion and energy transition goals.

 

In meetings with top executives of British multinational companies Shell and bp, Puri underlined India's intent to expand domestic oil and gas exploration and increase the share of natural gas in its energy mix from 6% to 15%. He noted that the drive towards greater exploration and production activities stands to benefit from Shell's cutting-edge technologies, paving the way for mutually beneficial collaborations. bp participated in India's ninth exploration licensing round, and Indian public-sector undertakings have partnered with the company for exploration and production investments. They are now also collaborating in retail, natural gas, and compressed biogas, as per the release.

 

Puri also held bilateral talks with key crude oil suppliers, including Kuwait and Nigeria. In talks with Kuwaiti Oil Minister Tareq Al-Roumi, Puri discussed deepening energy ties. Kuwait is India's sixth-largest crude oil supplier and fourth-largest source of liquefied petroleum gas. He also met Nigeria's Petroleum Minister Heineken Lokpobiri to explore expanded crude oil and hydrocarbons trade. 

 

The minister also met Vitol Group Chief Executive Officer Russell Hardy to discuss energy market challenges and collaboration across the hydrocarbons value chain. He said India's growing energy infrastructure and focus on gas-based transition are generating strong global interest.

 

Puri told reporters India has not violated sanctions while importing Russian oil and called the criticism uninformed. "India has never bought any sanctioned cargoes. Russian oil was never under global sanctions as sensible decision makers were aware of the realities of global oil supply chains. It was only placed under a price cap. Only those commentators who do not have an understanding of oil markets pass unnecessary judgements on our policies," the minister was quoted as saying in the release. He added that Russian supplies help to maintain global oil price stability.

 

At a separate meeting with OPEC Secretary General Haitham Al Ghais, the minister reiterated India's commitment to a balanced and predictable oil market amid geopolitical volatility. As the world's third largest importer of oil, India shares a unique and symbiotic relationship with OPEC, according to the release.  End

 

Reported by Afra Abubacker

Edited by Rajeev Pai

 

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