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India safe from Strait of Hormuz closure due to diversified oil imports, says Hardeep Singh Puri
Indian oil minister Hardeep Singh Puri says India has diversified its sourcing of oil supplies to avoid dependence on the Straits of Hormuz. It has weeks of reserves. Saudis have 5 million barrel a day pipeline to bypass Hormuz waterway and UAE 1.5 million barrel a day pipeline to bypass Hormuz waterway, so that 6.5 million barrels a day could be added to meet Asian oil demand, in addition to convoys escorted by US warships in Hormuz waterway to meet demand from China, India and Japan. This would mean China is itself dependent on American seapower to maintain it's oil supplies, a third of which come through the Hormuz waterway and keep important sealanes of navigation open.
China, India, Japan, and other World are critical for the world economy manufacturing sector and comprise 3.5 billion or about half of the world's population. In addition Latin America and Africa are dependent on oil supplies and prices.
New pipelines, renewable energy, will become more important in the years ahead, and figure more in planner's minds after this Hormuz episode.
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