India diversified crude oil sources from 27 to 41 amid global disruptions: Puri
India has expanded its crude oil supply sources from 27 to 41 countries to improve energy security. The government is also increasing its refining capacity and exploring new oil sources in response to geopolitical concerns. Minister Hardeep Singh Puri emphasized the impact of global shipping disruptions on domestic industries and households. He outlined plans to enhance domestic energy production…
India has expanded its crude oil supply network from 27 countries to 41, according to Petroleum and Natural Gas Minister Hardeep Singh Puri. The diversification of imports aims to mitigate the impact of geopolitical tensions and disruptions to international shipping routes on Indian industries and household expenses. Puri emphasized that India is importing more than 5 million barrels of oil per day while exporting around 1 million barrels, driven by its expanding refining capacity.
The minister also highlighted the importance of monitoring emerging tensions in the Red Sea and the government's commitment to raising domestic energy production through the Samudra Manthan scheme, which plans to support deep-sea oil and gas exploration.
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