India is considering requests from neighboring countries like Bangladesh and Nepal for additional fuel supplies due to potential shortages caused by disruptions in key maritime routes linked to the Middle East conflict. Bangladesh has sought more diesel from India beyond the 1,80,000 tons it annually receives under an existing agreement, as reported by the Vietnam Times citing Bloomberg. Nepal, on the other hand, asked for an extra 3,000 tons of liquefied petroleum gas from the Indian Oil Corporation, but New Delhi indicated that only contracted volumes would be provided for now.
Nepal currently receives around 48,000 tons of LPG monthly from IOC under their current arrangement, according to Manoj Kumar Thakur, the deputy director of the state-run Nepal Oil Corporation. The report highlighted India’s pivotal role as the world’s fourth-largest refiner, giving it the capacity to address the crisis and strengthen regional ties, positioning itself as a reliable partner in South Asia. The Ministry of External Affairs spokesperson, Randhir Jaiswal, mentioned that the Indian government is evaluating requests for additional fuel supplies from various countries, including Sri Lanka, Bangladesh, and the Maldives, considering India’s energy needs and availability.
The closure of the Strait of Hormuz has left South Asian nations vulnerable to energy import disruptions, with governments and companies in the region facing challenges due to the lack of alternative supply routes. India, which imports about 90% of its annual crude requirements, is exploring alternative supply routes to mitigate the disruptions. Recently, India secured approximately 30 million barrels of Russian oil, engaged in talks with Iran for the safe passage of its oil vessels, and is negotiating for the safe passage of over 20 tankers. India has diversified its LPG sources by procuring from various global channels, including the United States, amidst the ongoing Middle East conflict, as confirmed by the government.
The Joint Secretary of the Petroleum and Natural Gas Ministry’s Marketing and Oil Refinery, Sujata Sharma, noted that the country is receiving more crude due to enhanced diversification, ensuring stable fuel availability with refineries operating at full capacity and ample stocks of petrol and diesel.
