India making ‘significant efforts’ to diversify crude oil imports

Indian companies have made “significant efforts” to diversify their crude oil supply sources, according to India’s Press Information Bureau.

PIB said crude supplies from Middle East sources “have by and large been smooth,” but that Middle East supplies have declined to 61.2% of total crude imports from 69.1% in the past 3 years. Crude from Africa, meanwhile, has declined to 16.1% from 18.1%.

Supplies from South America have risen to 16.8% from 8.5%, while North American crude supplies have risen to 2.7% from 1.3%.

PIB’s data are for 2011-12, 2012-13, and provisionally 2013-14.

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