Israel-Iran clash: No immediate impact on crude oil supply, say officials

Officials say India's crude and LNG imports remain steady but warn that any hostilities affecting the Strait of Hormuz could threaten oil flows from Gulf partners

The latest flashpoint in West Asia is unlikely to affect India's overall crude oil and liquefied natural gas (LNG) supplies, which remain “healthy” as well as imports from West Asia, said petroleum ministry officials.

 

“Inbound volumes are not expected to be impacted. We also have a good stock in line with our medium-term demand estimates. We are monitoring the situation,” a ministry official said.

 

The crisis also does not threaten India's imports directly as it does not import crude oil from Iran. This is because of difficulties in payment to the heavily sanctioned Islamic regime in Tehran, he pointed out.