India Reduces Dependence On Iran Oil To Less Than 6 Percent
Iraq is its second biggest supplier at 24.63 million tonnes, followed by Kuwait with 20.35 million tonnes of supplies. Nigeria is the fourth largest supplier at 16.36 million tonnes, followed by UAE with 13.98 million tonnes.
Sources said India is diversifying its crude purchases, tapping new nations in the Latin America for supplies.
Imports from Columbia have been more than doubled to 6.31 million tonnes in 2013-14 from 2.80 million tonnes in the previous year. In 2011-12, Columbia gave less than one million tonnes of oil to India.
Similarly, supplies from Mexico have been raised by almost one million tonnes to 4.94 million tonnes.
Sources said Middle-East contributed 61 per cent (115.86 million tonnes) of India's oil while Latin America has emerged as its second biggest supplier region, supplying 31.73 million tonnes of oil. Africa provided 30.39 million tonnes of oil in 2013-14.
In the current fiscal, India will import 188.2 million tonnes of oil, marginally lower than 189.24 million tonnes in the previous fiscal. About 35.5 million tonnes of oil will come from domestic fields to meeting an estimated fuel demand of 223.7 million tonnes in 2014-15, they said.
READ MORE: Revenue Collection Expected To Exceed Target: Arun Jaitley
