-
Hardeep Singh Puri to meet global oil industry captains in UAE next week
India’s petroleum and natural gas minister Hardeep Singh Puri will meet United Arab Emirates’ energy and infrastructure minister Suhail Mohamed Faraj Al Mazrouei and Abu Dhabi National Oil Company (ADNOC) managing director and group chief executive Sultan Ahmed Al Jaber next week “to discuss issues of energy cooperation within the overall framework of India-UAE Strategic Partnership.”
This meeting with the oil industry captains of UAE, one of major crude oil suppliers to India comes in the backdrop of transportation fuel prices being at a record high in India. India is dependent on imports to meet 85% of its oil demand and 55% of its natural gas requirements. Higher crude oil prices, if not checked, will have an impact on global economic recovery, Puri has earlier stated.
“Shri Hardeep S. Puri, Minister of Petroleum and Natural Gas & Housing and Urban Affairs, will lead an official and business delegation to UAE from 15 – 17 November 2021, to attend the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) on the invitation of H. E. Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure of UAE,” India’s ministry of petroleum and natural gas said in a statement on Sunday.
India has raised the high oil price issue with Opec secretary-general Mohammad Sanusi Barkindo during his recent visit to India. The discussions also focussed on the need for finding a balance between the needs of suppliers and consumers. India has been raising the issue with major oil producing countries such as Saudi Arabia, Kuwait, Qatar, UAE, Bahrain, US, and Russia.
“Shri Puri is scheduled to meet his counterparts from UAE, H.E. Suhail Mohamed Faraj Al Mazrouei, Minister of Energy and Infrastructure, and H.E. Dr. Sultan Ahmad Al Jaber, Minister of Industry & Advanced Technology, MD & Group CEO, ADNOC, to discuss issues of energy cooperation within the overall framework of India-UAE Strategic Partnership. The Minister will also have meetings with his counterparts from various countries and Heads of international energy organizations and CEOs of global oil & gas companies, who are attending the ADIPEC- 2021,” the statement added.
Adnoc is one of the only two firms to commit to India’s crude oil reserve programme to date. It has also partnered with Saudi Aramco and Indian state-run oil companies for setting up the world’s largest oil refinery and petrochemical complex in Ratnagiri. The project has hit the skids, after protests from farmers and Shiv Sena which is in power in Maharashtra with its alliance partners.
Share This
