NEW DELHI: India’s state-run oil firms have been asked to look for new sources of supplies to fill in the gap created by stoppage of imports from Iran.“We have been readying ourselves for this by tapering off imports from Iran. We cut our monthly imports from Tehran by 50 per cent in February itself. Now that the US has made it clear that there will be no more waivers for India and other countries, we will peruse leads that we already have, which include the possibility of increased supplies from Saudi Arabia, UAE, Kuwait as well as Iraq,” said top petroleum ministry officials.
Indian firms will also be talking to Mexican and US shale oil suppliers to increase offtake from there. However, officials said that India’s mix would require more of West Asian supplies. All refiners mix crude supplies from various sources as each kind of crude has its own properties.
