India Prioritise to Secure Energy Needs of People on US, EU Sanctions on Buying Russian Oil

An Indian foreign ministry spokesperson said the government’s priority was to secure the energy needs of the people as a response to NATO chief Mark Rutte’s threat that countries like India, China, Brazil would be sanctioned for buying Russian exports, reported Times of India.

India also cautioned against “double standards” on the matter stating that European countries have themselves benefitted from importing Russian energy for prolonged periods of time. Petroleum minister Hardeep Singh Puri said India can arrange alternative supplies if Russian oil supplies are sanctioned. 

Times of India reported that on being asked about the issue of imports of Russian oil, India’s high commissioner to the UK said: “What would you have us do? Switch off our economy?”

Russian Oil Giant Roseneft Calls EU’s Sanctions on Nayara Energy Unjust and Illegal 

Roseneft slammed European Union’s (EU) sanctions on its Indian affiliate Nayara energy unjustified and illegal as it could threaten India’s energy security, reported Times of India. It equated EU’s actions to extraterritorial and politically motivated restrictions that infringed international law and the economic interests of sovereign states.

The response comes after the EU imposed a fresh round of sanctions against Russia over its war against Ukraine targeting Russian oil giant’s Indian refinery and lowering the oil prices. While India was not directly named, the sanctions could impact Nayara Energy, which operates a major refinery in Gujarat.  

Oil India in Talks with Global E&P Majors for Joint Bid to Explore Hydrocarbon Blocks 

State-owned Oil India Ltd. is in talks with global exploration and production majors such as ExxonMobil, Total Energies, and Petrobras to jointly bid for exploration of hydrocarbon blocks in India at 10th round of auctions at Open Average Licensing Policy (OALP-X), reported Livemint. 

The government planned to auction 2.5 lakh square km of area for exploration in this round of auction. Oil India is also scouting for a technical service partner in its old and legacy oilfields, where it is looking to increase production. 

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