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Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Friday said India expanded its crude oil sourcing base to 41 countries from 27 earlier, as part of efforts to strengthen energy security during the global energy crisis.
"What has happened during this energy crisis in India, it happened because the Govt absorbed the shock at the fiscal system level rather than passing it immediately on to the consumer's wallet," Puri said while speaking at the Vibrant Gujarat Regional Conference - South Gujarat. He added that long-term planning played a key role in managing the crisis. "Because preparations made over the last 10 years, the decade, came into play exactly when they were needed. We diversified our sources; crude sourcing has now expanded from 27 countries to 41," he said. Highlighting supply diversification, the minister noted, "We started procuring LPG from the US, Norway, Algeria, apart from the Middle East." On boosting domestic production, Puri said, "Orders were issued to maximise LPG yield at refineries, and we increased our domestic production by 60%. From 36,000 MT per day to 54,000 MT per day." He added that consumption patterns were also evolving. "Out of a total daily consumption of 90,000, which we also brought down because we are shifting from LPG to LNG, that is pipe gas, and also because we are incentivising the movement to natural gas," he said. Referring to crisis management measures, the minister said, "Operation Urja Suraksha was a coordinated response across companies, ministries, state govts and international suppliers," adding that "maximum vessels of India carrying LPG came out of the Hormuz." Puri also highlighted steps taken to shield consumers from rising global prices. "When crude prices moved up sharply, our oil marketing companies carried under recoveries that would normally have translated into a direct retail increase. Excise duty was cut, export levies were used to keep Indian products in Indian markets," he said. Citing current fuel prices, he added, "The consequences is visible. As of late April, petrol in Delhi remains at Rs 94.77 per litre and diesel at Rs 87.67 per litre." He also underlined that "we kept the kitchen fire in 33 crore kitchens burning through thoughtful allocation," adding that "today, commercial LPG is at about 70% of pre-crisis levels, with priority to labour-intensive sectors like steel, automobiles, textiles, dyeing, chemicals and plastics." (ANI)
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