India faces no pressure from the US to cut its Russian oil purchases, Oil Minister Hardeep Singh Puri said on Tuesday. “I never felt anything,” he told reporters at the 29th Energy Technology and Innovation Meet in Goa. Instead, refiners will buy from whoever offers the best price, he added.
Puri on Russian oil and prices
According to Puri, India is not buying much Russian oil at present. However, he said such choices rest on commercial terms, not on pressure from any country. He also noted that buyers can turn to other suppliers, such as the UAE, after the curbs on Rosneft and LUKOIL. Earlier this week, BPCL said it would cut Russian crude in November.
No move beyond E20 for now
Meanwhile, Puri said there is no plan to lift ethanol blending in petrol beyond 20%. He also rejected claims that E20 damages engines. “Six crore vehicles” refuel every day, he said, so widespread damage would be obvious.
On cooking gas, Puri said domestic LPG output has risen from 34,000 to 55,000 tonnes a day. In addition, India now imports 67% of its LPG from the US.
