Business News | India, China Energy Needs Will Shape Future of Global Oil Demand, Says Hardeep Puri
Get latest articles and stories on Business at LatestLY. India and China are among the world’s largest energy consumers and their energy needs will shape the future of global oil demand, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Friday.
New Delhi [India], September 11 (ANI): India and China are among the world’s largest energy consumers and their energy needs will shape the future of global oil demand, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Friday.
Puri met a delegation from China National Petroleum Corporation (CNPC) in the national capital.
“It was a pleasure to meet a delegation from China National Petroleum Corporation (CNPC), led by its Chairman, Mr. Dai Houliang, in New Delhi today. India and China are among the world’s largest energy consumers and importers, with significant shared interests in energy market stability. Our energy needs will shape the future of global oil demand,” Puri said in a post on X.
Several senior officials from Petroleum Ministry and CMDs of India’s energy sector PSUs were present in the meeting with CNPC.
The engagement comes against the backdrop of broad international disruptions. Earlier, in a separate post on Thursday, the minister pointed to regional conflicts and hurdles in international logistics that continue to affect commodity flows.
"The situation of war persists in West Asia, and the world is still grappling with major supply challenges for petroleum and natural gas," Puri stated. "Pressure is mounting on global supply chains, and international trade is also facing numerous hurdles."
He remarked that domestic economic expansion maintained its trajectory despite adverse worldwide circumstances. Puri maintained that the domestic strategy focuses on turning global pressures into industrial self-reliance, noting that the country works to reduce reliance on inbound shipments, support local supply networks, and protect foreign exchange reserves.
Detailing initiatives aimed at import substitution within the hydrocarbon and chemical sectors, the minister highlighted specific manufacturing developments undertaken by Bharat Petroleum Corporation Limited (BPCL).
"With the start of BPCL's DAS project in March 2026, domestic production of such import-substitute products has been strengthened," Puri explained on X, referencing the production of specialised de-aromatised solvents applied across industries ranging from paints and inks to drilling operations.
"This will reduce industries' reliance on imports, lower inventory and lead times, and improve product availability when needed."
According to the minister, this segment of domestic manufacturing targets both domestic requirements and broader supply channels beyond national borders.
"India is no longer just moving towards meeting its own needs—it's also opening up new possibilities for global markets in this niche segment," Puri said. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)