GBS 2026: 'Today, we source crude oil from 41 locations' – Indian Oil Chairman Arvinder Singh Sahney | ET NOW Global Business Summit 2026

Responding to a question on antifragility amid global turbulence, Sahney said the energy sector has faced sustained disruption over the past few years — 'starting from Ukraine, then Iran, then Israel, India and Pakistan Operation Sindoor.' He emphasised that the responsibility of managing energy for a country 'as wide and as big as India' requires building resilience beyond conventional efficiency models.

'It is not about a synonym between efficiency and antifragility,' he noted. 'I have to bring in optionality, flexibility — how I increase the span of sources of energy.'

Highlighting a clear shift in strategy, Sahney explained: 'Five years back, I was sourcing crude oil from 27 geographies. Today, I am bringing it from 41 geographies — so that brings in the antifragility in the system.'

He pointed to LPG as another critical focus area. 'LPG is a very big clean cooking fuel. We are importing around 50-60 per cent of the total LPG needed. So how I diversify the sources of LPG that is coming to India — that is important.'

Similarly, on LNG imports, he stressed diversification and flexibility. 'Simply LNG — that is gas — how I bring out different sources so that it gives me flexibility in terms of hedging my sources of energy.'

For Sahney, antifragility extends beyond sourcing. 'How I secure my supply chains, how I secure my transportation, how I secure the movement of petroleum products and crude from the sources to Indian shores — that all is what I understand from antifragility.'

India purchases approximately USD 135 billion worth of crude oil annually. This is a huge amount that is being drained from the Indian economy every year. He said that this huge expenditure on oil is a drain on our economy.

Now, a new wave of change is emerging in the energy sector in the country. Alternatives like compressed biogas (CBG), ethanol, biofuels, and green hydrogen are rapidly emerging.

These new fuel options are a boon for the Indian economy, freeing us from dependence on oil imports, said Arvinder Singh Sahney, Chairman, Indian Oil at GBS 2026.

He concluded by underlining the broader objective: building systems that ensure energy remains 'affordable and available at all times to all people.'

At a time when disruption is continuous and power is being re-distributed across technology, geopolitics, capital, and society, Times Group’s thought leadership dialogue, ET NOW Global Business Summit (GBS) 2026, set to take place on February 13 and February 14 at the Hotel Taj Palace in New Delhi, embraces the theme “A Decade of Disruption. A Century of Change”.

GBS 2026 - A Decade of Disruption. A Century of Change

This year’s edition reflects the scale, speed, and significance of transformations reshaping global economies, from technological acceleration and geopolitical realignment to sustainability imperatives and new governance models.

The GBS 2026 will evaluate a range of themes, including economic disruption, Industry 5.0, globalisation, workforce transformation, energy security and business diversification.

The Times Group’s ET NOW Global Business Summit (GBS) is not a reflection on the past; it is a platform built to shape what comes next. As Asia’s most influential global leadership forum, it convenes the architects of economies, institutions, and enterprises to script the forces that will define the century ahead.

Conceived as a space where leaders confront uncertainty before it becomes inevitability, GBS convenes the world’s most influential voices to interpret disruption, design direction, and script long-term impact.

As economies, technologies, and governance systems undergo accelerated transformation, GBS serves as a centre of global conversations, where emerging realities are debated, strategic responses are forged, and the foundations of future growth are laid.