Panel for diversification of crude sources

A parliamentary committee has flagged India's heavy dependence on crude oil imports and rising geopolitical risks as major challenges for the country, and urged the government to step up diversification of supply sources and strengthen risk management mechanisms.

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The Public Undertaking Committee noted that India imports nearly 89% of its crude oil requirements, making the country vulnerable to global disruptions arising from conflicts, sanctions, civil unrest in oil-producing nations and disruptions in key shipping routes such as the Suez Canal and t