Hardeep Singh Puri , the newly appointed Oil Minister taking on the toughest challenge of oil diplomacy first up. Face with record high petrol prices Hardeep Singh Puri is reaching out to oil producing nation to ease the pain even as UAE and OPEC reach an agreement on crude supplies.
Conveyed my desire to work closely with UAE and other friendly countries to bring a sense of calm, predictability and realism among other suppliers in the energy market to make it more affordable for consumers,” Puri tweeted as he called on Dr Sultan Ahmed Al Jaber who is the chief executive of state-owned Abu Dhabi National Oil Company (Adnoc), one of the only two firms to commit to India’s crude oil reserve programme till date.
UAE had urged Saudi Arabia and the rest of the OPEC members to to unlock more oil supply as almost 30% of the nation's oil production remained idle.
India imports 80% of it's oil needs has been feeling the pinch. Petrol and diesel price on July 15 was hiked for the 40th time since May 4.