CrudeFriday, 22 May 2026·India
India Explores Alternative Energy Sources Amid Ongoing Oil Supply Crisis
India is accelerating efforts to reduce dependence on conventional fuel imports as the ongoing Middle East conflict continues disrupting global oil and gas supplies.
Prime Minister Narendra Modi has reportedly asked government ministries to urgently explore greater use of alternative energy sources, including expanding biogas usage as a substitute for LPG.
The government is also pushing faster implementation of long-term reforms aimed at strengthening India’s energy security and supporting its goal of becoming a developed nation by 2047.
India has been facing severe pressure on energy supplies since the Iran conflict disrupted crude and LPG flows from the Middle East. The country has increased imports of Russian crude and also started searching for alternative energy supplies from regions outside the Gulf.
Reports also suggest India may send empty tankers through the Strait of Hormuz to directly load crude oil and LPG cargoes from Gulf producers, marking a major operational shift since the conflict began.
However, sourcing oil and gas from outside the Middle East has increased transportation costs and extended delivery times compared to traditional Gulf supply routes.
The prolonged energy disruption is now putting pressure on India’s economy, including higher fuel costs, inflation concerns, pressure on foreign exchange reserves, and slowing economic momentum.
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Prime Minister Narendra Modi has reportedly asked government ministries to urgently explore greater use of alternative energy sources, including expanding biogas usage as a substitute for LPG.
The government is also pushing faster implementation of long-term reforms aimed at strengthening India’s energy security and supporting its goal of becoming a developed nation by 2047.
India has been facing severe pressure on energy supplies since the Iran conflict disrupted crude and LPG flows from the Middle East. The country has increased imports of Russian crude and also started searching for alternative energy supplies from regions outside the Gulf.
Reports also suggest India may send empty tankers through the Strait of Hormuz to directly load crude oil and LPG cargoes from Gulf producers, marking a major operational shift since the conflict began.
However, sourcing oil and gas from outside the Middle East has increased transportation costs and extended delivery times compared to traditional Gulf supply routes.
The prolonged energy disruption is now putting pressure on India’s economy, including higher fuel costs, inflation concerns, pressure on foreign exchange reserves, and slowing economic momentum.
Stay ahead of market trends with the Credco app. For any queries, please reach out via WhatsApp at +91 8448083211.