Central government eyes on new markets for crude oil

In view of the volatility in crude oil prices in the international market, India is insisting on buying crude oil from countries other than OPEC. In this sequence, in the next few days, the consignment of oil is going to come from Guyana for the first time. India is also keeping an eye on some countries in Africa where oil production has started recently. Tarun Kapoor, Secretary, Ministry of Petroleum and Natural Gas told, “We are increasing the number of suppliers keeping in view the market situation. of the state-run petroleum company Indian Oil. The crude purchased from Guyana will reach India in a few days. Oil company HEML is also 'buying oil' from there. Another private sector oil company Reliance Industries buying oil from Venezuela. Kapoor said new oil reserves are being discovered in many countries from where we are making special efforts to buy oil. The European country Norway is also included in this.