The national oil companies of Saudi Arabia and the United Arab Emirates (UAE) assured Indian state-run oil companies of uninterrupted supplies through all possible options during the June conflict-led uncertainty in the global oil market, he added. On 25 June, Mint reported the Centre was activating an emergency strategy to ensure uninterrupted oil supplies. This included a plan to bypass the critical Strait of Hormuz in Iranian waters through two pipelines—Abu Dhabi National Oil Co. (Adnoc)-operated Habshan-Fujairah strategic oil pipeline and Saudi Arabian Oil Co. (Saudi Aramco)-operated East-West crude oil pipeline—and tap into the global reserves and portfolios of Adnoc and Saudi Aramco. India also explored options to increase supplies from other countries and regions, including Russia, Brazil, Latin America, Canada, and the US. The new manual is of immense significance to India, given that West Asian supplies comprise nearly 40% of its oil imports. Sahney said during the 10-day Israel-Iran conflict, not a single cargo was delayed, deferred or cancelled. And, the way India and the oil marketing companies (OMCs) navigated the conflict, the IOCL was now confident of navigating any exigency to meet India’s growing energy demand. On shrinking discounts on Russian oil, he said the fall in discounts comes amid the decline in international oil prices. In the interview, he also discussed IOCL’s green-energy expansion plans, saying the company would consider acquisitions, albeit smaller ones. Edited excerpts:Given that the world has gone through an interesting episode of late with the conflict in West Asia, how well prepared is India and also Indian Oil?Actually, whatever happened reaffirmed our belief in ourselves as IOCL and India as a whole that we can manage the situation. If this had resulted in blockages on the strait, it could have had some impact, but at the same time, I will say that we were fully prepared for it. Today, approximately 40% of India’s crude needs are being met from the Middle East (West Asia), which could have been impacted to a certain extent. At the same time, I can confidently say to myself and to customers that we have a very diversified crude basket today. We have another 20-25 countries, which are supplying to us. Russia is there, West African countries are there, Latin American countries are there, Mexico is there, Brazil is there. The US itself is there, and then Canada is there. So, there are so many other sources, and we had alerted, or we had started talking, or we are already in talks with most of these other suppliers, and they were ready to step up. They were ready to supply crude to us at a very short notice, if at all, the situation arose.Also Read | Indian Oil draws up green hydrogen fuel retail network plan But we were very comfortable, and it gave a lot of confidence to us also… and I should mention the lea in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. 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The Indian Oil chief stated that the emergency strategy developed to navigate around the Strait of Hormuz will serve as a model for addressing future crude oil crises.
