India’s Union Minister for Petroleum and Natural Gas, Shri Hardeep Singh Puri, met with Kuwait’s Minister of Oil and Chairman, HE Tareq Sulaiman Al-Roumi, on Wednesday, July 9, during the 9th OPEC International Seminar held in Vienna.

This high-level meeting was part of ongoing efforts to deepen strategic energy ties between the two nations, both of which are key stakeholders in the global oil and gas industry.

During the discussion, both ministers emphasized the importance of expanding cooperation in the energy sector, focusing on:

• Long-term crude oil supply agreements
• Liquefied Petroleum Gas (LPG) imports
• Investment opportunities in the hydrocarbon value chain

Kuwait plays a critical role in fulfilling India’s growing energy demands. As of 2024, Kuwait ranks as:

• The 6th largest supplier of crude oil to India
• The 4th largest source of LPG imports
• The 8th largest hydrocarbon trade partner overall

Both sides reiterated their commitment to a stable and predictable energy partnership, recognizing the mutual benefits of such collaboration. The ministers also explored possibilities for joint ventures and technological collaboration in energy efficiency and renewable integration.

Broader Implications in Regional and Global Energy Markets

The timing of this meeting is particularly significant given current volatility in global oil markets and increasing geopolitical risks. By engaging proactively, India and Kuwait aim to:

• Stabilize bilateral trade in oil and gas
• Support market resilience
• Enhance cooperation under multilateral platforms like OPEC