Oil supply chain stable, says minister Hardeep Puri
NEW DELHI: India's oil supply chain remains stable as a result of diversification in the last few years, oil minister Hardeep Puri said on Sunday. .
Data from Kpler showed Indian refiners pivoting away from West Asia since outbreak of hostilities between Israel and Iran stoked fears of Hormuz closure. In June, for example, oil imports from Russia and the US outpaced combined volumes of from traditional West Asia suppliers like Iraq and Saudi Arabia.
India imports oil from 13 countries. India does not buy any oil from Iran. Hormuz is crucial for India as 40% of oil imports still passes through this waterway between Iran and Oman.
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Data from Kpler showed Indian refiners pivoting away from West Asia since outbreak of hostilities between Israel and Iran stoked fears of Hormuz closure. In June, for example, oil imports from Russia and the US outpaced combined volumes of from traditional West Asia suppliers like Iraq and Saudi Arabia.
India imports oil from 13 countries. India does not buy any oil from Iran. Hormuz is crucial for India as 40% of oil imports still passes through this waterway between Iran and Oman.
Stay informed with the latest business news, updates on bank holidays and public holidays.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Top Comment
Jagdish Madan
5 hours ago
Despite diversification of oil supply sources, 40% of Indian oil needs still passing through the Hormuz Straight is serious concern. Any disruption in Hormuz is certain to jack up oil prices and affect the Indian economy adversely!Read allPost comment
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