India Diversifies Oil Imports: The Country Seeks Alternatives to Russian Supplies.
23.01.2025
1694

Journalist
Shostal Oleksandr
23.01.2025
1694

Indian Refinery Seeks Alternative Supply Sources
New US sanctions against Russia may affect the procurement sources of state-owned Indian Oil Corp. Currently, India imports less than 2% of its oil from Russia, but due to discounts, purchases have increased to nearly 45%. As a result, India must seek alternatives due to the changes in supplies from Moscow, as sanctions may impact deliveries of up to 2 million barrels of oil per day.
Indian Oil Corp will reach out to OPEC nations, the USA, Guyana, and Brazil to offset potential shortages. We also have sufficient sources and cooperation for further development
Oil prices have risen following the imposition of sanctions, but they are expected to remain in the range of $75-80 per barrel.
Read also
- Poland asks for a nuclear shield from the USA in response to the threat from Russia
- Preparation for the Ukraine Recovery Conference 2025: Ministry of Economy is gathering investment projects
- Taiwan accused China of deepening influence and infiltration
- Zelensky: We now have a great opportunity to end this war
- Zelensky discussed steps towards peace and the release of prisoners with the Secretary of State of the Vatican
- Ukrainian units surrounded in Kursk? Statement from the General Staff