India copes with interruptions in oil, gas supplies — minister
TASS
NEW DELHI, September 28. /TASS/. India has successfully coped with interruptions in energy supplies caused by the crisis in the Middle East but the situation in the global energy segment remains challenging, said Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri.
"So far we have navigated that uncertainty. In fact, I would say we have insulated ourselves from the turbulence," he said at an event organized by the Indian Chamber of Commerce and Industry.
There is no global shortage of energy resources as such, the minister noted. The daily volume of available crude oil is about 104 mln barrels, while the global consumption is around 94 mln barrels. the main challenge lies in logistics and distribution, especially when considering the use of unstable transit routes like the Strait of Hormuz, Puri said.
The current pattern of routes and the crisis in the Middle East covers about 40% of total energy supplies, the minister said. "Going forward, it constitutes a challenge. But I can assure you, we won't let things get out of control," he noted. India diversified the network of oil supplies and increased their number from 27 to 41 countries, Puri added.
Fonte: TASS
