What is the news?
There is tension in West Asia. American and Israeli forces are attacking Iran. In response, Iran is targeting the Gulf countries and has closed the Strait of Hormuz, causing an oil crisis all over the world. Being a big country in the export of refined oil, many neighboring countries of India have requested for help. Let us tell you, 20 percent of global supply and 55 percent of India’s supply passes through Hormuz.
Which countries asked for help from India?
Ministry spokesperson Randhir Jaiswal said India is a major exporter of refined petroleum products, especially to its neighboring countries. He said that requests for diesel supply have been received from many countries including Bangladesh Government, Sri Lanka and Maldives. He said that these are being examined keeping in mind India’s own energy needs and availability.
Will India supply diesel to Bangladesh?
Bangladesh has asked for the maximum of 50,000 metric tons of diesel in 4 months. On this, the spokesperson said that in view of India’s people-centric and development-oriented approach towards Bangladesh, we have been supplying diesel from Numaligarh Refinery through water-rail route and India-Bangladesh Friendship Pipeline since 2007. He said that diesel export is continuing since 2017 after the sale-purchase agreement with Bangladesh Petroleum Corporation, but the decision will be taken keeping in mind our requirement and diesel availability.
India is the world’s fourth largest exporter of refined oil.
India is the world’s fourth largest refined fuel exporter. It exports 1 million barrels per day, of which 28 percent goes to Nepal via pipe and road. After this it is exported to other Asian countries, Europe etc. Crude oil production in India is very low, which is only 11-12 percent of the country’s requirement. It imports 88 to 90 percent of crude oil. Refined petroleum production capacity is 50 lakh barrels per day.
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