Amid rising geopolitical tensions in West Asia and concerns over global crude oil supply, Kotak Mahindra Asset Management Company Managing Director Nilesh Shah said India is likely to manage the situation effectively, while urging citizens to avoid hoarding LPG cylinders.
"We are continuously monitoring the evolving situation, and all necessary steps will be taken in order to ensure availability and affordability of major petroleum products in the country," the Ministry of Petroleum and Natural Gas said in a post on X.
Union Petroleum Minister Hardeep Singh Puri on Tuesday said that India is making a transition to sustainability so as to deliver basic welfare to a large and growing population amidst the multiple crises the world is facing.
India, the world's third-biggest oil importer and consumer, is dependent on crude oil from various sources in the global market to meet its domestic demand.
New Delhi [India], September 15 (ANI): The trend of crude oil supply to India will continue, and bilateral trade will strike new records, said Russian Ambassador to India, Denis Alipov, in an interview with ANI.
Kohat [Pakistan], May 23 (ANI): After Pakistan's natural-gas distribution company backed out of an agreement to supply gas to Kohat villagers, hundreds of people from five villages blocked the supply of gas and crude oil from main reserves.