India Says It Will Maintain Multiple Sources Of Energy Supply

(MENAFN- Khaleej Times) India plans to maintain multiple sources of energy supply and diversify them when needed as New Delhi looks to ensure consumers receive "adequate energy at the right price through reliable and secure supplies", Indian Foreign Secretary Vikram Misri said on Monday.

Misri was responding to a question at a media briefing seeking clarity on India's position on the purchase of Russian oil after US President Donald Trump said last week that New Delhi had "committed to stop directly or indirectly" importing it.

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India's priority is to safeguard the interests of its consumers through an energy policy driven by adequate availability, fair pricing, and reliability of supply, Misri said.

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India is neither dependent on any single source for crude oil nor does it "intend to be", importing from a "mix of sources" depending on "objective market conditions", he said, adding that "national interests" guide both the government and Indian energy companies.

Trump last week signed an executive order lifting the punitive 25 per cent tariff on all imports from India over its purchase of Russian oil. The Kremlin earlier said it saw nothing new in India's announcement that it would diversify its energy sourcing.

India's Russian oil imports slipped in January as refiners sought more alternative barrels under Western sanctions pressure and US-India trade talks, as Reuters earlier reported.

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