New Delhi, September 22 (Daily Kiran) : In a significant move to bolster energy cooperation, India and the Organization of the Petroleum Exporting Countries (OPEC) reached an agreement during a high-level meeting held in New Delhi. The discussions emphasized the necessity of enhancing mutual collaboration in light of the evolving global energy landscape and increasing energy demands.
The meeting was co-chaired by Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas, and Haitham Al Ghais, the Secretary General of OPEC. An official statement indicated that the agenda covered critical topics such as the stability of the global oil market, energy security, and the need for timely and substantial investments in the oil industry.
Both parties reviewed short-term, medium-term, and long-term scenarios for the energy market, underscoring India’s pivotal role in global economic growth and energy demand. Puri commended OPEC’s efforts to maintain stability and transparency in the global energy markets amid geopolitical uncertainties and market volatility. He stressed the importance of collaboration between India and OPEC to develop a balanced, stable, and predictable global energy market.
Puri noted that the relationship between India and OPEC is inherently complementary and mutually beneficial. He highlighted India’s commitment to its long-standing cooperation with OPEC and its member countries, which has strengthened mutual understanding and collaboration on crucial energy issues.
As one of the fastest-growing major economies, India is expected to remain a significant driver of global energy demand in the coming decades. Puri emphasized that ongoing dialogue between producer and consumer nations is essential for promoting investment, enhancing energy resilience, and ensuring a reliable energy supply for global development.
OPEC Secretary General Haitham Al Ghais remarked that dialogue with India is a priority for the organization, given India’s increasing significance in the current global energy landscape, which is projected to strengthen further in the coming years. He noted the completion of 11 years of the OPEC-India energy dialogue, which began in 2015 in New Delhi and has continuously strengthened over time.
Al Ghais also praised India’s balanced, practical, and realistic approach to addressing energy challenges, stating that many of India’s energy priorities align with those of OPEC. He acknowledged the Indian government’s commitment to international cooperation and dialogue, recognizing its ongoing support for diplomatic efforts to tackle global challenges.
During the meeting, both sides agreed that the eighth high-level OPEC-India energy dialogue would be held in Vienna on a mutually convenient date.
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