India Wants to Diversify Crude Oil Sources: Piyush Goyal

India wants to diversify crude oil sources: Piyush Goyal

India is seeking to diversify its crude oil and coking coal imports, with a proposed trade agreement with the United States expected to support that strategy, Commerce and Industry Minister Piyush Goyal said at the Global Economic Cooperation Summit in Mumbai. He noted that India remains dependent on a handful of geographies for coking coal, leading to price volatility, and expressed interest in sourcing high-quality American coking coal. Of the…

India’s crude oil import recalibration underscores long-term energy security pivot, says GlobalData

India’s crude diversification marks a structural shift from opportunistic discount buying to disciplined geopolitical risk management. With oil accounting for roughly a quarter of primary energy consumption and import dependence near 87% in 2024, prioritizing compliance resilience, supply optionality, and stronger US linkages signal a more strategic energy security doctrine, according to GlobalData, a leading intelligence and productivity platfo…