India’s crude supply has been significantly diversified in the wake of the ongoing conflict and the blockade of the Strait of Hormuz, with 75% of its crude now sourced from routes outside the vital shipping checkpoint, government officials confirmed on Wednesday.
Also read: 60% LPG imported, 90% via Hormuz: Centre shares updates on LPG supply, says 2 LNG cargoes on way
Sujata Sharma, Joint Secretary for Marketing & Oil Refining at the Ministry of Petroleum & Natural Gas, reported that India’s daily crude consumption, at approximately 55 lakh barrels, remains secure despite disruptions in the region.
“Through diversified procurement, the volumes we have secured today exceed what would normally have arrived through the Strait of Hormuz during this period,” Sharma said during a briefing.
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As part of India’s strategy to reduce reliance on Hormuz, the country now imports crude from 40 countries, a shift from previous dependence on the strait for a significant portion of imports. The country’s oil marketing companies (OMCs) have secured various crude cargoes from alternative sources.
“In India, we import crude from about 40 countries. Further, OMCs have secured various crude cargoes from different sources. And as a result of this diversification, about 75% of our crude import is now coming from routes outside the Strait of Hormuz, compared to 55% earlier,” the secretary said
She further said that two LNG cargoes are on their way to India. “Within a few days, they will arrive, which will further strengthen the crude supply position,” the official said, adding that refineries are operating at the highest capacity utilisation, and some refineries are operating more than 100% of their capacity.”
Meanwhile, the Ministry of Shipping reported that 28 Indian vessels are currently operating in the Persian Gulf, with 24 stationed west of the Strait of Hormuz.
Rajesh Kumar Sinha, Special Secretary of the Ministry of Shipping, confirmed that 677 sailors are aboard these vessels, with another 101 crew members on four ships stationed east of Hormuz.
He said the government has been actively monitoring the safety and security of these vessels, coordinating closely with embassies, local authorities, and ship managers to ensure crew safety and provide medical assistance if necessary.
The ongoing crisis in the Strait of Hormuz, a key global oil shipping route, has raised security concerns for international maritime traffic.
On Wednesday, three vessels were struck near Hormuz.
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