Petroleum and Natural Gas Minister Hardeep Singh Puri told the Rajya Sabha that facts regarding the stand taken by western oil companies on pulling investments out of Russia varied on the ground. Less than 1% crude oil was imported from Russia, he noted.
“When we are in discussion with these companies, the facts on the ground vary. Some have indicated an intent and others said they will not make fresh investment. We are monitoring the situation. Insofar as oil imports from Russia are concerned, contrary to what has been played up in the press, these are miniscule. Even now, the total amount contracted will be less than three days’ supply from Russia to India and that also spread over the next three to four months,” he stated.
