New Delhi, March 17: The ongoing severe conflict in the Middle East is impacting various regions worldwide. If these attacks are not halted, the repercussions on global markets and economies could be significant. Amidst these challenges, India is actively working to mitigate the adverse effects of the situation through discreet diplomatic efforts.
Due to the current conditions in the Hormuz Strait, the United States is urging NATO countries to assist in keeping the strait open by deploying warships. Despite these circumstances, India has successfully navigated its ships out of the Hormuz Strait.
Two Indian vessels have already reached the Indian coastline after departing from the Hormuz Strait, with more expected to follow. India imports approximately 85 to 89 percent of its crude oil needs. Previously, about 55 percent of this crude oil came through the Hormuz Strait, but recent government data indicates that this figure has now risen to 70 percent. India’s energy supply remains secure, with daily crude oil consumption around 5.5 million barrels, sourced from nearly 40 countries.
India’s total natural gas consumption stands at approximately 189 million cubic meters per day, with domestic production accounting for 97.5 million cubic meters. However, unexpected circumstances have disrupted the supply by about 47.4 million cubic meters daily.
Regarding cooking gas, India imports about 60 percent of its LPG consumption, with nearly 90 percent of this coming through the Hormuz Strait. Current conditions have affected this supply. Following government measures, domestic LPG production has increased by 25 percent.
India’s largest oil suppliers include Russia, Iraq, Saudi Arabia, and the United Arab Emirates. Additionally, imports from the United States have risen. The country also sources oil from Kuwait, Qatar, Oman, and Egypt in the Gulf and Middle East; Nigeria, Angola, Libya, and Algeria in Africa; Canada, Mexico, and Brazil in the Americas; and Kazakhstan and Azerbaijan in Central Asia.
India imports 47-50 percent of its total LNG from Qatar, with additional imports from the United Arab Emirates, Oman, Nigeria, Angola, Australia, and the United States. For cooking gas, India primarily relies on Qatar, Saudi Arabia, and the United Arab Emirates, with the U.S. now also becoming a significant supplier.
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Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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