Brief by Shorts91 NewsDesk / 10:29am on 17 Jun 2025,Tuesday India
Union Petroleum & Natural Gas Minister Hardeep Singh Puri reviewed India’s petroleum supply amid escalating Israel–Iran tensions. He confirmed India is “well‑positioned” to meet its fuel requirements, crediting PM Modi’s diversified import strategy and proactive government planning. The minister met with officials from IOCL, HPCL and BPCL to reassess stock levels and confirm reserves. India now explores offshore prospects, with promising finds in the Andaman Sea potentially a “Guyana moment” enabled by opening 1 million km² of previously restricted sedimentary basins. Only 8 % of India’s total 3.5 million km² basin has been explored; current exploration targets about 42 billion tonnes of oil‑gas equivalent. Although offshore wells cost US $100 million each, state-owned ONGC has drilled historic numbers this year.
