India Is Putting Emphasis On Diversifying Its Crude Oil Sources: Pradhan

India Is Putting Emphasis On Diversifying Its Crude Oil Sources: Pradhan
India’s three public sector refineries have put an order of 7.85 million barrel from the US.

The Dollar Business Bureau

Highlighting the arrival of two shipments of crude oil from the US, Petroleum and Natural Gas Minister Dharmendra Pradhan said on Sunday that the country is emphasising on diversifying its sources for crude oil supply and tapping new markets.

The two shipments of 1.6 million barrels of American crude oil were landed at the Paradip Port, Odisha on October 2.

“India is putting a lot of emphasis on diversifying its crude oil supply sources and tapping new supply source,” Pradhan said in a meeting with OPEC’s Secretary General, Sanusi Mohammad Barkindo, who is in India for attending the first CERAWEEK India Energy Forum.

The three public sector refineries of India have already put a cumulative order of about 7.85 million barrel of crude oil from the US. Besides, a refiner from private sector has also put an order of around 2 million barrel of crude oil from the US, he was quoted as saying in an official statement. Read More…

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