India secures 70% of crude oil imports Outside Strait of Hormuz: Petroleum Ministry

 Joint Secretary for Ministry of Petroleum and Natural Gas Sujata Sharma has said that India’s crude oil supply is secure and about 70 percent of the country’s crude oil import is now coming from outside the Strait of Hormuz.

 

Addressing the Inter-Ministerial briefing on recent developments in West Asia in New Delhi, she said that the volume of crude oil secured by government exceeds what normally would have arrived through Strait of Hormuz. She added that the country today imports crude oil from 40 countries and Oil marketing companies have secured various crude cargos through different sources. The Joint Secretary said that the country’s gas companies have procured LNG cargoes from new sources. Two LNG cargoes are on their way to India.

Rajesh Kumar Sinha, Special Secretary in Ministry of Ports, Shipping, and Waterways said that presently 28 Indian flag vessels, having 778 Indian seafarers, are operating in the Persian Gulf. He said that government is actively monitoring all these vessels and crew for their safety and security. Authorities, Ship Managers and Recruitment Agencies are closely coordinating with Indian embassies and local authorities to ensure safety and render medical assistance to them. He added that overall port operations across India remain stable.

 

Mr Sinha said that ports have been directed to extend all necessary assistance to minimise hardships faced by exporters and ensure continuity of exim trade.