According to an official statement issued by the Ministry, India imported about 13 percent of its crude oil requirements from Iraq last year, while in the current fiscal, public sector oil companies had planned to import 19.4 million tonnes (about 20 percent of their requirement) of crude oil from Iraq.

Pradhan noted that crude supplies to India from Iraq come from the Basra oilfields which are situated well away from the conflict zone in the north-eastern part of Iraq and loading of ships, including by the two PSUs (Indian Oil Corp and Hindustan Petroleum Corp), from the Basra oil terminal, continues normally.

Against 18.7 million tonnes of crude oil imports planned by IOCL and HPCL in 2014, 50 percent of the contracted quantity has already been lifted.

Pradhan asked oil firms to prepare a contingency plan for the short and medium term by tying up supplies from other sources in case oil from Iraq is disrupted.

In the meeting with senior ministry officials and oil firms, it was confirmed that there is no possibility of supply disruption at present and adequate supply of petroleum products throughout the country would be maintained.


Latest News from India News Desk