Many countries are standing in line to sell oil to India! Union Minister told a big thing on purchasing from Russia

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Crude Oil Import: Due to the rapid economic development in India, we remain the largest consumer of energy and crude oil in the world. In such a situation, crude oil is imported from many countries as per the need (India’s Crude Import) It happens. Friendly countries like Russia are also included in this. However, for the last few days, there was discussion on social media that India’s oil import from Russia has reduced or almost ended. Regarding this, Union Petroleum Minister Hardeep Singh Puri (Hardeep Singh Puri) has told a big thing. He said that there is no problem in purchasing oil from Russia. Imports have not decreased but have increased in recent times. However, he said that wherever India gets cheap Tess, we will buy it. He told that many countries are standing in queue to trade oil with India.

40 percent crude oil coming from Russia

Petroleum Minister Hardeep Singh Puri said on Wednesday that there is no problem of payment in buying oil from Russia and the recent decline in this purchase is the result of less discount given by it. He told reporters at an event that before the start of the Russia-Ukraine war, the share of Russian oil in the oil imported by India in February 2022 was only 0.2 percent. But amid international sanctions imposed after the Ukraine war, Russia offered discounts on oil purchases, after which this share increased to 40 percent and Russia is now India’s top oil supplier. He said that India has diversified its import sources and the country will buy at the cheapest available rates. He said that Indian consumers are assured of getting fuel at the most affordable price without any disruption. Oil imports from Russia had increased by 40 percent. Now if it has come to 33 percent or 28-29 percent then there is no problem of payment for it. This is purely because of the price at which our refining companies will get the oil.

Red Sea will not cause any problem in business

Petroleum Minister Hardeep Singh Puri said that no company has complained about stoppage of supply due to payment related problems. Instead suppliers are willing to sell first and collect payment later. We are buying 15 lakh barrels of oil per day from Russia. Out of the daily consumption of 50 lakh barrels in the country, 15 lakh barrels are being purchased daily. If they won’t discount, why would we buy it? On Houthi rebels’ drone attacks on cargo ships in the Red Sea, Puri said some suppliers have changed their route and are now passing through the Cape of Good Hope. Although avoiding the Red Sea and the Suez Canal will result in longer journeys, ships will not have to pay Suez Canal transit fees. About a third of global container ships use the Suez Canal. Through this, 82 lakh barrels of crude oil is transported.

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