Industry Odisha Bureau, Jul 16: Amid the renewed West Asia tensions, India has reportedly opted for bypassing tense-Torne Strait of Hormuz, and has reportedly rerouted its imports of crude oil and Liquefied Natural Gas (LNG) via the safer ports owned by the United Arab Emirates (UAE).
Media reports said that, “In a bid to reduce dependence on the risky Strait of Hormuz, the Indian crude oil refiners are now having their shipments through UAE’s Fujairah and Khor Fakkan ports located along the Gulf of Oman.”
Media reports also said that, “India is also utilising the Habshan-Fujairah strategic oil pipeline since it bypasses the Strait of Hormuz. Also, the Sohar Port under Oman is also being utilised by India for its safe energy imports.”
Reportedly, “The UAE is not only India’s third-largest crude oil supplier after Russia and Saudi Arabia, it the only foreign investor in India’s strategic petroleum reserves.”
Need to be mentioned here that, “India used to import around 60% of crude oil, 54% of LNG and 90% of Liquefied Petroleum Gas (LPG/cooking gas) through the Strait of Hormuz.”
