New Delhi: Petroleum and Natural Gas Minister Hardeep Singh Puri on Monday said in Rajya Sabha that crude oil imports from Russia are minuscule at just 0.2 percent of the total crude oil import till January in the current fiscal. "We are monitoring the situation. As far as oil imports are concerned from Russia, contrary to what played up in media, it is negligible," he said.
"About the increased oil import concerns...we require a total of 5 million barrels per day. Sixty percent of it comes from Gulf. We have imported from Russia, just 0.419 million metric tonnes...that is 0.2 percent of total requirement (during April-January this fiscal)," Puri said replying to a question.
According to the statistics presented by Puri in a written reply stated that India imported 85% of its crude oil requirements and 54% of its natural gas requirement in 2020-21. He further stated that as per Petroleum Planning & Analysis Cell (PPAC), India’s major sources of crude oil imports are Iraq, Saudi Arabia, UAE, Nigeria, and the USA.
"Indian Oil & Gas Public Sector Undertakings had imported approximately less than 1% of its total crude oil import from Russia in the year 2021-2022 (till January). India imported only 0.419 Million Metric Tonnes (MMT) of crude oil from Russia, as compared to overall crude oil imports of 175.900 MMT," stated Puri.
"In the current situation of high volatility in global energy markets, the government of India is closely monitoring the situation. No adverse impact on hydrocarbon energy agreements is currently foreseen," he added.
(With agency inputs)
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