In the wake of unprecedented global energy disruptions, India is being advised to reconsider its heavy reliance on Middle Eastern oil and gas supplies. Speaking at an energy conclave, ONGC Chairman Arun Kumar Singh highlighted the urgent need for a strategic reset to ensure India’s energy security.
Singh emphasized the importance of diversifying supply sources, boosting domestic production, and expanding strategic storage capacities. He warned against geopolitical risks and market volatility, underscoring the unpredictability of refining economics and urging a shift in focus towards domestic resources.
Despite global challenges, Singh hailed India’s effective response to the crisis and encouraged continued efforts in energy diversification and infrastructure enhancement, particularly in increasing liquefied petroleum gas (LPG) supply and prioritizing piped natural gas (PNG) for households.
(With inputs from agencies.)