India Evaluates Fuel Supply Requests from Neighbors Amid Regional Shortages
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Key Takeaways
New Delhi, March 17 (NationPress) India is currently assessing the requests made by its neighboring nations for increased fuel supplies as Bangladesh, Nepal, and others grapple with the possibility of severe shortages due to disruptions in critical maritime routes stemming from conflicts in the Middle East, according to a recent report.
The report, as cited by Vietnam Times and Bloomberg, indicates that Bangladesh has appealed to New Delhi for an additional diesel supply beyond the 180,000 tons it receives annually under a pre-existing contract.
In addition, Nepal has sought an extra 3,000 tons of liquefied petroleum gas from the Indian Oil Corporation but was informed by New Delhi that only the agreed-upon volumes would be delivered for the time being, as stated by Manoj Kumar Thakur, deputy director of the state-run Nepal Oil Corporation.
Nepal currently receives approximately 48,000 tons of LPG each month from the IOC under its existing agreement, he noted.
While India has not yet sanctioned the extra fuel requests, its status as the world's fourth-largest refiner allows it potential flexibility to address the crisis, which could strengthen regional relations and solidify its reputation as a reliable partner in South Asia, the Vietnam-based media outlet reported.
Earlier this month, Randhir Jaiswal, spokesperson for the Ministry of External Affairs, mentioned that the Delhi government is reviewing fuel supply requests from several countries, including Sri Lanka, Bangladesh, and the Maldives. “These requests are under consideration while factoring in our energy needs and availability,” he added.
The report highlighted that South Asian countries are particularly vulnerable to disruptions in energy imports, noting that the closure of the Strait of Hormuz has led governments and companies throughout the region to struggle with finding alternative supply routes.
India imports about 90% of its annual crude oil requirements and is exploring alternative supply routes to alleviate these disruptions.
Earlier in the week, India placed an order for approximately 30 million barrels of Russian oil, successfully negotiated with Iran for the safe passage of its oil vessels, and is currently in discussions for the secure transit of more than 20 tankers.
The Indian government has also begun procuring LPG from various global sources, including the United States, to diversify its supply amid the ongoing conflict in the Middle East, as reported on Tuesday.
Sujata Sharma, Joint Secretary of the Petroleum and Natural Gas Ministry, stated, “We are receiving an increased volume of crude today due to enhanced diversification.”
According to the ministry, fuel availability remains steady, with refineries operating at full capacity and ample stocks of petrol and diesel.