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Securing affordable, sustainable energy top agenda: Dharmendra Pradhan after Saudi oil attacks

Fri Oct 04 2019 18:30:00 GMT+0530 (IST)

With the biggest attack ever on the Saudi oil industry creating volatility in the market, Petroleum Minister Dharmendra Pradhan on October 3 said securing affordable and sustainable energy tops agenda of "vulnerable" importing nations like India which were exposed to supply concerns. India was able to secure most of its contracted supplies from its second-biggest oil supplier, Saudi Arabia, in the aftermath of the September 14 drone and missile assault on the Kingdom's main oil facility that knocked out about 5.7 million barrels a day, about half of the country's output. "Today, we are meeting in the backdrop of a major oil and gas crisis resulting from attacks on Saudi oil processing plants at Abqaiq and Khurais," Pradhan said at the World Economic Forum. "The price volatility and concerns about sustained oil supplies made consuming countries vulnerable given the fact that India, along with most South Asian countries, have a major dependency on crude oil and gas imports. So, securing affordable and sustainable energy figures as a top agenda for all these countries, including India," he said.