New Delhi, Oct 16: India has stated that its oil and gas import policy is based on consumer interests, amidst a volatile global energy market.
The country’s energy policy aims to ensure stable prices and secured supplies, including broad-basing energy sourcing and diversifying as appropriate to meet market conditions.
Commerce Secretary Rajesh Agrawal said energy purchases from the US have fallen from $25 billion to around $12-13 billion in the past seven to eight years, leaving India with a headroom of around $12-15 billion to purchase without worrying about the configuration of refineries.
India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri emphasized that India’s diversification of sources for buying oil in the global market has not led to concerns over any US crackdown on Russia’s oil exports.
