Russia Is Now Largest Supplier Of Crude Oil To India: Hardeep Singh Puri
NDTV
Hardeep Singh Puri noted that the increase is influenced by global price dynamics and availability.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said on Tuesday that Russia has become the largest supplier of crude oil to India, accounting for more than 35 per cent of the country's imports.
Speaking at the FIPI Oil and Gas Awards Ceremony, the minister highlighted the dramatic shift in India's oil sourcing over the past two years, with Russian oil imports surging from a mere 0.2 per cent in February 2022 to consistently occupying the top spot in recent months.
"For quite some time now, Russia has been the largest supplier of crude to India. The percentage would be upwards of 35 per cent, but it varies from month to month," Mr Puri stated. He noted that the increase is influenced by global price dynamics and availability, with India balancing long-term contracts with spot market purchases.
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