April 23, 2013 1:50 PM

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India sources crude from 30 countries in bid to diversify imports: MoS Petro

India has been trying to diversify its sources of crude oil imports in order to reduce its dependence on any particular region of the world. Currently, New Delhi is importing crude oil from more than 30 countries spread across different continents. This information was given in a written reply in the Rajya sabha today by the Minister of State for Petroleum and Natural gas Mrs Panabaka Lakshmi. The Minister said an immediate impact on global crude oil prices due to reduction in supplies from a particular region or country is minimized by release of additional crude oil production from the spare capacities available in other producing regions or countries. The Minister said the quantum of crude oil imported by Indian refineries from various sources is decided by them on the basis of technical and commercial considerations.

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