India Defends Oil Purchases and Projects Refining Capacity Expansion

Union Petroleum Minister Hardeep Singh Puri stated on Tuesday that India faces no external pressure to halt purchases of Russian oil and will instead prioritize national energy security.

Speaking at the 29th Energy Technology and Innovation Meet in south Goa, Mr. Puri said Indian refiners acquire crude oil based strictly on competitive pricing and commercial viability.

The remarks arrive as Western nations continue international scrutiny over energy trade and seek to curb Moscow revenues following the invasion of Ukraine.

"I have never felt any pressure," said Hardeep Singh Puri, the Union Minister for Petroleum and Natural Gas.

The comments follow a recent visit to New Delhi by United States Secretary of State Marco Rubio, which occurred against the backdrop of US sanctions targeting nations that purchase Russian oil.

"At the point of negotiation, whoever is supplying a particular grade, we will buy from them," Mr. Puri said.

The Times of India reported that Mr. Rubio called India a refining superpower and noted Washington understands the country needs to diversify its oil imports.

During the conference, Mr. Puri also outlined major growth targets for the domestic petroleum sector.

India currently maintains a refining capacity of around 290 million tonnes per annum.

Officials expect that capacity to climb to 300 million tonnes annually by 2030 through new projects and the expansion of existing facilities.

Mr. Puri contrasted the domestic expansion with declining refining capacity in Europe and other parts of the Western world.

"With refining capacity increasing in a big way, we will be in the happy situation of not only refining for ourselves, but for the world," Mr. Puri said.

NDTV reported that the minister noted procurement decisions involve complex supply considerations aimed at managing consumer costs.

The Hindu reported that Nayara Energy operates 7,108 petrol pumps across the country and raised petrol prices by 5 rupees and diesel prices by 3 rupees.

Market observers continue to monitor how Indian refiners balance commercial crude sourcing with shifting global supply chains.