India Stabilizes Energy Supply via UAE and Global Diversification

State-run refineries are accelerating purchases of Murban crude following a strategic agreement with Abu Dhabi’s national oil company, ADNOC. Traders note that these supplies are being routed through Fujairah, effectively bypassing the Strait of Hormuz to mitigate transit risks. Refinery officials confirm that LPG inventories remain secure through mid-July, providing a necessary buffer for the country’s primary cooking fuel.

Beyond the UAE, India is aggressively broadening its import portfolio. April marked the resumption of Venezuelan crude flows, facilitated by shifting U.S. policy, while shipments from Nigeria and Angola continue to rise. Despite these diversification efforts, Russia remains the country’s top supplier. India continues to leverage U.S.-granted waivers to maintain this volume, positioning itself as the primary destination for Russian seaborne crude as it balances geopolitical pressure with the urgent need for affordable energy.