India Secures U.S. Marine Cover Amid Strait of Hormuz Turmoil

India is seeking marine insurance from the United States to ensure continuous oil supplies amid disruptions in the Strait of Hormuz. Diversifying its import sources, the country explores options from West Africa, Latin America, and the U.S. while negotiating with global oil and gas suppliers to mitigate potential shortages.

India is seeking assistance from the United States to obtain marine cover for vessels ferrying oil from the Middle East, ensuring uninterrupted energy supplies amid increasing tensions in the region, according to an oil ministry official. India's current oil reserves can meet 25 days' requirement in case of supply chain disruptions.

The ongoing conflict in West Asia has hampered oil transportation through the strategic Strait of Hormuz, a critical passage for global oil and liquefied natural gas shipments. India, importing 88% of its crude oil and a significant portion of its LNG through this maritime corridor, is now looking beyond traditional sources.

The official disclosed that the nation is negotiating with international producers and traders, including those in the U.S., West Africa, and Latin America, to supplement supplies while ensuring secure transit routes through U.S.-provided risk insurance. India is also in talks with global firms like TotalEnergies and Vitol to boost its energy reserves.

(With inputs from agencies.)