Notion of easy access to Gulf energy hit; India must chase ‘every drop’ of oil & gas, ramp up strategic reserves: ONGC head

What Happened

ONGC Chairman Arun Kumar Singh stated India cannot rely solely on Gulf energy due to West Asia conflicts and Strait of Hormuz closure affecting 20% of global oil flows. He urged India to diversify energy sources, expand strategic reserves, and maximize domestic oil, gas, and coal production. India imports 88% of crude oil needs, with 40% dependent on the Strait. Natural gas import dependency is 50%, LNG imports 55-60% via Strait, and LPG reliance is 60% with 90% through critical waterway.

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