India's Energy Supply Resilience Amid Middle East Tensions
India is well-prepared for energy supply demands with diversified sources amid escalating Middle East tensions. With significant imports from non-Hormuz routes, India ensures fuel stability. Oil prices have surged, but remain lower than earlier peaks. Russia and Qatar are key suppliers for crude oil and natural gas, respectively.
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India remains resilient in its energy supply chain despite increasing tensions in the Middle East, according to Oil Minister Hardeep Singh Puri. He emphasized India's preparedness by highlighting the nation's diversified energy sources, which include Russia, the US, and Brazil.
The Strait of Hormuz, currently threatened by Iran, plays a decreased role in India's oil transit, as diversification efforts have reduced reliance on this route. Consequently, while only about 2 million barrels of crude oil transit through Hormuz, alternative paths are secure and operational.
Global oil prices have spiked due to regional conflicts, notably Israel's strike on Iran, but Indian stability in fuel supplies remains steadfast. Despite the price fluctuations, India's strategic supply partners and contingency plans continue to serve its energy demands effectively.
(With inputs from agencies.)
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