Masterstroke by PM Modi! India’s pace will not stop even in the midst of war, even Trump is surprised to see the oil stock

New Delhi: The increasing tension between America and Iran in the Middle East and the blockade of the Strait of Hormuz has deepened the oil and gas crisis all over the world. This situation was no less than a nightmare for a country like India, because we import 85% of the oil we need from abroad. But when the world felt that India would now be engulfed in energy crisis, then India found a way out that even big countries kept watching.

Hormuz crisis and India’s increasing tension

India is the third largest energy importer in the world and more than half of our oil supply comes through the Strait of Hormuz. Our major suppliers like Qatar, Kuwait and UAE use this route. The closure of the Hormuz route meant a complete breakdown of India’s supply chain. But instead of sitting idly by, India has found a solution. India has now turned to alternative routes to Hormuz and new partners.

Friendship with Russia, Africa and Venezuela

India not only maintained its oil purchases from Russia at a record level, but also started supplying again from countries that people had forgotten. According to shipping tracking data, India has again increased oil imports from Africa, Venezuela and America. According to ‘Kpler’ data, Russia still remains India’s largest supplier, from where about 1.98 million barrels of crude oil is coming every day. But the real game changer has been Angola in Africa, from where India has tripled imports to 3.27 lakh barrels per day. Apart from this, oil is also being purchased on a large scale from Nigeria and Venezuela (1.37 lakh barrels per day).

Challenges are no less, but India’s resolve is firm

However, this journey is not that easy. Due to the war, India’s total oil imports fell to 4.5 million barrels from 5.3 million barrels in March. To meet this shortage, when we import oil from far-off countries like America or Africa, the cost of shipping increases. In April, India bought oil by paying 5 to 15 dollars more per barrel than Brent crude. Also, refining crude oil coming from Venezuela and African countries is technically quite challenging for Indian refineries.

India saved itself from energy crisis

Despite all the difficulties and rising bills, India did not let its ‘Energy Security’ be in danger. India has strategically filled its oil tanks so that the country’s momentum does not stop even if the war drags on. Today India has proved that it is not dependent on just one or two paths, but knows how to create its own path when a crisis arises.