Puri, Canadian Minister Discuss Scope to Boost Hydrocarbon Trade

14 Nov 2025 CW Team

Union Petroleum Minister Hardeep Singh Puri met Canada’s Minister for International Trade Maninder Sidhu to discuss opportunities to expand bilateral hydrocarbon trade. The meeting took place during Sidhu’s official visit to India.

In a post on X, Puri noted that bilateral hydrocarbons trade reached $226.45 million in FY24–25 and carries “substantial upside potential”. Discussions centred on strengthening energy ties, investment linkages and diversifying supply avenues.

Canada, which exported 6.3 million barrels of oil equivalent per day to 110 countries in 2024, currently sells 94.4 per cent of its output to the United States. Ottawa is seeking to diversify away from its heavy dependence on the U.S. market, particularly in the wake of tariff measures introduced under President Donald Trump, which impose a 35 per cent duty on Canadian-origin goods.

India has also been navigating a challenging tariff environment, facing a 50 per cent duty on exports to Washington, including a 25 per cent penalty linked to Russian oil purchases. Despite this, India continues to prioritise energy security while pursuing favourable terms through trade negotiations.

Highlighting opportunities for collaboration, Mr Puri said Indian energy companies have built a “robust and rapidly expanding global footprint” in upstream oil and gas. He added that this positions India well to work with Canada in broadening the basket of crude, LPG and LNG suppliers.

The meeting underscores renewed momentum in India–Canada energy engagement at a time when both nations are seeking to diversify markets and secure long-term energy partnerships.

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14 Nov 2025

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