By: ICN Bureau
Last updated : December 07, 2021 10:48 am
India has started importing crude oil from the USA, Russia, Canada, Australia, Brazil, Guyana, Norway, Egypt, Gabon, Ghana, Congo, Equatorial Guinea, Libya, and Nigeria
To ensure security of crude supplies and to mitigate the risk of dependence on crude oil from a single region, Oil Public Sector Undertakings (PSUs) have diversified their petroleum basket and are procuring crude from countries located at various geographical locations viz. Middle East, Africa, North America, South America, etc. says Minister of State for Petroleum and Natural Gas, Rameswar Teli in a written reply to a question in the Rajya Sabha.
Oil PSUs have started importing crude oil from the USA, Russia, Canada, Australia, Brazil, Guyana, Norway, Egypt, Gabon, Ghana, Congo, Equatorial Guinea, Libya, and Nigeria.
The transportation charges for import of crude oil is variable in nature. The transportation charges are dependent on supply demand dynamics, seasonal variations, geopolitical situations, size of parcel, location of receiving port, etc.