India and OPEC share naturally complementary and mutually beneficial relationship, says Minister Puri
OPEC Secretary General Haitham Al Ghais says India is a priority for OPEC because the energy group recognizes the importance of the world’s fast-growing economy with strong energy demand and the importance will increase in the decades ahead https://opecfund.org/ .
Al Ghais stated, “Dialogue with India is a priority for OPEC because we recognize India’s importance within the current global energy landscape and the fact that this importance will only increase in the decades ahead”.
“OPEC-India Energy Dialogue is eleven years strong, having been launched in New Delhi in 2015,” he said after meeting Petroleum and Natural Gas Minister Hardeep Singh Puri in Delhi on 22 Sept.
The Secretary General commended India’s balanced, realistic and pragmatic approach to addressing energy challenges, emphasizing that “many of India’s energy priorities are OPEC’s priorities”.
Ghais also praised the Indian Government’s firm commitment to international collaboration and dialogue, and stressed, “What is particularly heartening about our dialogue is the fact that the Indian Government has consistently advocated diplomacy and dialogue as the means of resolving the great challenges of our age.”
This was 7th high-level meeting of the OPEC-India Energy Dialogue, the Ministry of Petroleum and Natural Gas said.
Both sides discussed oil market stability, energy security and the importance of adequate and timely investment across the oil industry. The meeting reviewed the short-, medium- and long-term outlooks, underscoring India’s crucial role in global economic expansion and energy demand growth.
In his remarks, Minister Puri underlined that India and OPEC share a naturally complementary and mutually beneficial relationship and thanked Secretary General for his contribution in strengthening this partnership. He emphasized that India values its longstanding engagement with OPEC and its Member Countries, which has contributed significantly to mutual understanding and cooperation on key energy issues.
The Minister noted that “As one of the world’s fastest-growing major economies, India will remain an important driver of global energy demand in the decades ahead. A sustained dialogue between producers and consumers is essential to support investment, strengthen energy resilience and ensure reliable energy supplies for global growth and development.”
Appreciating OPEC’s efforts towards promoting stability and transparency in global energy markets during a period marked by geopolitical uncertainties and market volatility, he called on OPEC and India to work closely in advancing a balanced, stable and predictable global energy market.
The Meeting commended the progress achieved to date within the framework of the dialogue, including at the technical level. It concluded with both parties underscoring the vital importance of fostering even deeper energy cooperation between OPEC and India.
It was agreed to hold the 8th High-Level Meeting of the OPEC-India Energy Dialogue at a mutually convenient date in Vienna, the Ministry said. fiinews.com
