Oil Public Sector Undertakings have diversified petroleum basket and procuring crude from countries located at various geographical locations

New Delhi : The Minister of State for Petroleum and Natural Gas, Rameswar Teli in a written reply to a question in the Rajya Sabha today informed that to ensure security of crude supplies and to mitigate the risk of dependence on crude oil from single region, Oil Public Sector Undertakings (PSUs) have diversified its petroleum basket and procuring crude from countries located at various geographical locations viz. Middle East, Africa, North America, South America, etc.

Oil PSUs have started importing crude oil from USA, Russia, Canada, Australia, Brazil, Guyana, Norway, Egypt, Gabon, Ghana, Congo, Equatorial Guinea, Libya and Nigeria.

The transportation charges for import of crude oil is variable in nature.  The transportation charges are dependent on supply-demand dynamics, seasonal variations, geopolitical situations, size of parcel, location of receiving port, etc.