India Widens Crude Oil Import Sources Amid West Asia Supply Risks
India is focusing on diversifying its crude oil imports to ensure energy security amid ongoing geopolitical tensions and supply chain disruptions in West Asia. The country has expanded its crude import sources from 27 to 41 countries, while liquefied natural gas (LNG) import sources have increased from six to 15.
New Delhi is seeking to reduce its reliance on a single source or route for energy imports, with more than 85% of its crude oil requirements being met through external sources. Russian crude has accounted for a significant share of India's imports in July, exceeding half of total crude imports.
The diversification strategy aims to strengthen energy security and reduce supply disruption risks amid global market volatility. The government is also pursuing a broader sourcing strategy to mitigate potential tariff risks linked to its purchases of Russian oil.