Energy prices decreased in India, says Hardeep Singh Puri

Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said India is stepping on the accelerator for green hydrogen, which will require clean and low-cost solar energy. India is one country where the energy price has actually decreased in the last two to three years. Puri said this during the Global Leaders and Energy Transition Ministerial Panel discussion at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2024. The exhibition opened on Monday, marking its 40th anniversary as a premier global energy forum. The four-day event, themed “Connecting Minds, Transforming Energy,” is expected to draw over 184,000 visitors and feature more than 2,200 exhibiting companies, including 54 national and international energy companies.
Puri,highlighted India’s current energy landscape, serving 1.4 billion people with 67 million daily visits to retail outlets for various fuel needs, from petrol and diesel to battery swapping. Discussing India’s energy future, Puri noted that the country will continue to develop its biofuels, with blending nearing 20 per cent by next year. He stressed the importance of maintaining traditional energy sources while accelerating the transition to cleaner alternatives, particularly for developing nations. He said, despite geopolitical tensions in some parts of the world, there is no shortage of crude oil in the world. Consuming countries have several options to choose from.

Despite geopolitical tensions in some parts of the world, there is no shortage of crude oil in the world. Consuming countries have several options to choose from. More supplies from countries such as Brazil and Guyana are coming into the market. Currently, the global supply of… pic.twitter.com/YenbunWrUr

— Hardeep Singh Puri (@HardeepSPuri) November 4, 2024