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India deepens energy trade with U.S. to mend trade relations amid tariff strain
- On November 17, 2025, Hardeep Singh Puri said Indian Oil Corporation, Bharat Petroleum, Hindustan Petroleum concluded a one-year deal to import about 2.2 MTPA of LPG from the U.S. Gulf Coast for contract year 2026.
- With domestic production covering about 35% of demand, India relies on imports covering 65%, and recent U.S. tariff measures including a 50% tariff and a 25% penalty prompted diversification efforts.
- A delegation from Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited visited the U.S. and finalised talks with major U.S. LPG producers, using Mont Belvieu pricing benchmark.
- To protect consumers, PSU oil companies have subsidised LPG, incurring over ₹40000 crores last year to keep Ujjwala cylinders at 500-550 despite global prices rising over 60%.
- Puri hailed the agreement as a historic opening, framing it as a first that opens one of the world’s largest LPG markets to U.S. suppliers on November 17, 2025.
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Total News Sources38
Leaning Left6Leaning Right5Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
R 42%
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