India's Oil Import Dependency and Energy Security
India is the world's third-largest oil importer and consumer. In 2023-24, India imported approximately 4.7-5 million bpd of crude oil, with the Middle East accounting for the majority. India's Strategic Petroleum Reserves (SPR) are maintained in underground rock caverns at Visakhapatnam (1.33 MMT), Mangalore (1.5 MMT), and Padur (2.5 MMT) — with a combined capacity of ~5.33 million metric tonnes (MMT), sufficient for approximately 9-10 days of consumption. India's Hydrocarbon Vision 2030 targets reducing oil import dependence through domestic production enhancement and renewables expansion.
- India: 3rd largest oil importer globally (after US and China)
- Crude imports (2023-24): ~4.7-5 million bpd
- Middle East share: ~50-60% of total imports
- Strait of Hormuz share of India's imports: ~50% (~2.6 million bpd)
- Strategic Petroleum Reserve (SPR) locations: Visakhapatnam, Mangalore, Padur
- SPR combined capacity: ~5.33 MMT (~9-10 days of consumption)
- Major suppliers (2025): Russia (top), Iraq, Saudi Arabia, UAE
- India-Russia oil: Increased after Ukraine war (2022) — discounted Urals crude
● Tracked since February 28, 2026 · last seen May 07, 2026 · updates as the daily brief publishes
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