a) whether the Government asks the refineries for diversification of oil import
after OPEC plus move to curb supply;
b) the percentage of oil imports from West Eastern Countries after OPEC has
cut its crude oil production;
c) the current status of oil supply by Middle East Countries; and
d) whether the State Refineries/Public Sector Units including IOCL are buying
crude oil from Guyana and United States and propose to review deal with
Russian sources of crude oil and if so, the details thereof?
MINISTER OF PETROLEUM & NATURAL GAS
(SHRI HARDEEP SINGH PURI)
(a) to (d): A statement is laid on the Table of the House.
Statement referred to in reply to parts (a) to (d) of Lok Sabha Starred
Question No. 194 asked by Shri B. N. Bache Gowda and Shri Bhartruhari
Mahtab to be answered on 2nd August, 2021 regarding “Diversification of
Import of Crude Oil”.
(a) To ensure security of crude supplies and to mitigate the risk of
dependence on crude from single region, Oil Public Sector Undertakings
(PSUs) procure crude from countries located at various geographical locations
viz. Middle East, Africa, North America, South America, etc..
(b) & (c) During FY 2019-20, before Organization of Petroleum Exporting
Countries (OPEC) imposed a cut, import of crude oil by Oil PSUs from Middle
East Countries was 69.02% (88.9 Million Metric Tonne (MMT) out of total
import of 128.8 MMT) but during FY 2020-21, import of crude oil from Middle
East reduced to 63.49% (69.9 MMT out of total import of 110.1 MMT). This
reduction in import of crude from Middle East is mainly on account of crude oil
production cut by OPEC since May, 2020, as countries which are members of
OPEC, produce and export crude oil to buyer countries as per their agreed
modified quota of OPEC plus.
(d) Oil PSUs are also sourcing crude oil from Guyana and USA. IOCL has
also bought its first crude oil cargo from Guyana in July 2021and entered into a
term contract with USA for optional purchase of US grade crude oil. Indian Oil
Corporation Limited (IOCL) has signed a term contract with Rosneft, National
Oil Company of Russia, to source Urals grade crude.
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