India Sourcing Crude Oil From 40 Countries Amid Hormuz Row, Say Govt Sources; Deny LPG Crisis

In response to heightened tensions in the Strait of Hormuz, the Indian government has diversified its crude oil sourcing, now obtaining supplies from 40 different countries. This strategic move aims to ensure a stable supply for domestic consumers amidst the ongoing geopolitical issues affecting global oil markets. Sources from the government affirmed that the priority remains on domestic needs, stating that if a choice arises between commercial and household consumers, the latter will take precedence. This decision comes amid concerns regarding potential disruptions in LPG supplies, which officials have categorically denied. The government emphasizes that the interests of Indian consumers are paramount, reinforcing its commitment to maintaining energy security and affordability in challenging times. As global oil prices fluctuate due to geopolitical instability, India’s proactive approach to sourcing oil from a diverse array of countries reflects its intent to mitigate risks and safeguard its energy requirements.