India Expands Global Energy Partnerships from 27 to 40 Nations

India’s global energy partnerships have significantly expanded over the past decade, increasing from 27 to 40 countries. Union Petroleum Minister Hardeep Singh Puri announced this growth on November 28, attributing it to enhanced energy diplomacy and a more secure sourcing network under the leadership of Prime Minister Narendra Modi.

Puri emphasized that this expansion reflects India’s commitment to building a resilient and diverse energy network. He stated, “Bharat’s global energy footprint is expanding with purpose. From 27 partner countries a decade ago to 40 today, India has built a stronger and more secure energy network under PM Narendra Modi.” This strategic outreach supports India’s ambition to become a major global refining and energy hub, a vision bolstered by significant capacity expansions and policy reforms initiated since 2014.

Growth in Refining Capacity and Export Potential

India’s refining capacity currently stands at approximately 258 million metric tonnes per annum (MMTPA). Puri projected this figure to rise to nearly 310 MMTPA by 2030, with long-term goals aiming for 400-450 MMTPA. This growth positions India among the world’s leading refining hubs, especially as nearly 20 percent of global refining capacity is expected to face shutdowns by 2035.

Despite challenges in the global energy market, India remains a key demand driver. The country is projected to contribute 30-33 percent of the incremental global energy consumption in the coming decades. Puri highlighted that Indian refineries are not only world-class and integrated into global markets but are also export-ready. In the fiscal year 2024-25, petroleum product exports are expected to exceed $45 billion, serving more than 50 countries.

Puri’s statements were made during the inaugural session of the Energy Technology Meet in Hyderabad, where he reiterated India’s commitment to establishing a diversified and sustainable energy landscape. This ambitious vision aligns with the government’s broader goals of economic growth and energy security, further solidifying India’s position in the global energy sector.