India must be cautious about West Asia energy reliance: ONGC - The Times of The nation
The country must be cautious about West Asia energy reliance: ONGC
Bharat must be cautious about West Asia energy reliance: ONGC
Fresh DELHI: As the globe scrambles to recover from the biggest energy shock in decades triggered by the West Asia conflict, The country should be cautious about relying on traditional supply assumptions, particularly its proximity to the West Asia for sourcing oil and gas,
The country, which relied on the West Asia to meet nearly half of its crude oil imports, 30% of its gas and 85-90% of LPG, must invest in building strategic storages as an insurance against fee and supply disruptions, he said.
"Thinking that the West Asia is nearest to us and therefore all their resources (can be accessed easily), we should take it with a pinch of salt," Singh said at the Energy Security conclave organised by oil regulator PNGRB.
Singh warned that a shifting global order and rising geopolitical tensions are undermining long-held assumptions about energy security. Calling for a strategic reset, he urged India to aggressively pursue domestic exploration and build resilience. agencies
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Bharat must be cautious about West Asia energy reliance: ONGC
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