New Delhi, May 29: India is actively diversifying its crude oil and gas import sources to address supply disruptions linked to the Strait of Hormuz crisis and safeguard the country’s energy security, a senior government official said on Friday.
Ministry of External Affairs spokesperson Randhir Jaiswal said energy security remains a key national priority, with India expanding sourcing options across global markets.
“We are trying to diversify our sources from across the world, and that is our policy at present,” Jaiswal said, adding that India welcomes support from multiple energy-producing regions.
The official also confirmed that 11 Indian-flagged vessels remain stranded in the Persian Gulf region, while 14 ships have successfully crossed the Strait of Hormuz and returned to India.
The diversification strategy comes as Indian refiners increase crude purchases from Russia and African producers such as Nigeria and Angola to offset disruptions in West Asian supplies. Trade data indicate that refiners have also expanded sourcing from Latin America and Africa to maintain supply stability.
A Petroleum Ministry official said India’s crude procurement decisions continue to be driven primarily by commercial viability and supply availability, stressing that long-term contracts have secured sufficient crude volumes.
India, the world’s third-largest oil importer, has significantly increased purchases of discounted Russian crude in recent years to help domestic refiners manage elevated global energy costs.
Despite sanctions imposed by the US on certain Russian energy entities and shipping channels, Indian refiners have resumed stronger purchases following temporary policy relaxations and evolving market conditions.
According to Kpler data, India’s Russian oil imports are expected to remain near record levels at around 1.9 million barrels per day in May, reinforcing Russia’s role as a major supplier to India.
The surge in alternative sourcing comes amid heightened global energy market volatility, with benchmark Brent crude moving above the $100 per barrel mark due to geopolitical tensions and supply concerns linked to the Strait of Hormuz disruption.
Officials maintain that India faces no immediate crude shortage, with diversification, long-term supply agreements and flexible procurement strategies helping preserve domestic energy security during the ongoing West Asia crisis.
