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Oil supply chain stable, says minister Hardeep Puri

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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. .“…We have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait of Hormuz now,” he said in a post on X.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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