India strengthens energy security through diversified oil sourcing

TDT |  Agencies

Email: mail@newsofbahrain.com

India has moved swiftly to strengthen its energy security by expanding crude oil purchases from a wider range of global suppliers, including Russia, Africa, Iran and Venezuela, according to analysts and industry data.

Asthe world’s third-largest oil consumer, India has demonstrated supply agili t y b y broadening its sourcing mix and ensuring steady fuel availability despite disruptions in traditional trade routes. Analysts say the country’s ability to tap multiple suppli- ers reflects the growing sophistication of its energy strategy.

Import data shows that Indian refiners significantly increased purchases of Russian crude in March, with imports averaging nearly 1.98 million barrels per day, helping stabilise supplies during a period of global uncertainty. Industry experts note that policy flexibility and timely international coordination enabled refiners to secure additional volumes efficiently.

India has also strengthened energy ties with African producers. Imports from Angola rose sharply in March, while Nigeria supplied additional cargoes in April, reinforcing Africa’s role as a reliable partner in India’s diversification efforts.

At the same time, shipments from Iran and Venezuela resumed in April, adding further depth to India’s supply portfolio. Analysts describe these flows as a strategic boost for refiners, offering greater optionality and reinforcing supply resilience.

Despite shifts in sourcing, domestic fuel availability has remained stable. State-run oil companies have continued to supply petrol and diesel without price increases, supported by government measures including excise duty adjustments.

The oil ministry said coordinated action by the government and public sector oil firms has helped shield consumers from global price volatility.

Officials emphasised that India has successfully kept retail fuel prices steady over recent years through proactive planning and policy support.

Energy analysts say India’s multi-pronged sourcing strategy, combined with timely fiscal measures, has preserved access to crude supplies while protecting domestic markets—underscoring the country’s growing role as a confident and adaptive global energy consumer.