Indian Oil Shields Consumers from Global Energy Market Shocks

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri praised Indian Oil Corporation (IndianOil) for maintaining uninterrupted fuel supplies across India, despite global disruptions in the energy market.

Puri's statement came on the occasion of IndianOil Day, September 1. He highlighted the role of India's public sector Maharatna companies in strengthening the country's energy security amid ongoing global crises.

Indian Oil has absorbed the impact of global disruptions by continuing to import energy and ensuring that consumers receive fuel without interruption, Puri said. The company has also helped cushion consumers from supply-chain disruptions arising from the situation around the Strait of Hormuz, a key route for global energy supplies.

Puri emphasized that Indian Oil's OMCs have shielded millions of citizens from the full impact of global shocks by keeping fuel prices steady despite mounting costs. The company has also expanded its retail and gas distribution network across India, with over 42,818 retail outlets and more than 2,600 CNG stations.