India Strengthens Energy Strategy: Adani Ports to Import Petroleum

The Indian government allows Adani Group's Krishnapatnam Port to import petroleum, aiming to refine more crude oil on the east coast and enhance energy efficiency amid rising global fuel prices. As India relies on imports for over 80% of its crude oil, this move boosts the country's energy strategy.

The central government has granted permission to the Adani Group's Krishnapatnam Port in Andhra Pradesh to import petroleum by sea, recognizing the necessity for such imports in the public interest. This extension will enable the port to handle petroleum imports until March 2026, facilitating increased crude oil refining capabilities on India's east coast.

These operations, sanctioned by the Navigational Safety at Ports Committee (NSPC), are expected to enhance energy cost efficiency, especially during a period marked by rising international fuel prices. The move strategically positions India to manage its energy resources more effectively.

India remains heavily reliant on importing over 80% of its crude oil requirements from regions like the Middle East, Africa, Europe, and the Americas. Although efforts are underway to boost domestic oil production, the Adani Ports and Special Economic Zone (SEZ) plays a critical role in this logistics sector, being the largest private port operator in India.

(With inputs from agencies.)