Energy ‘vulnerable’ India seeks U.S. help to produce more oil and wean itself off Russia, Middle East reliance amid geopolitical turmoil
India imports nearly 90% of its crude oil—largely from Russia and the Middle East. With geopolitical trouble making both of those sources less reliable and leaving it vulnerable, the world’s most populous country is inviting more foreign investment to help it boost its domestic oil and gas supplies, a top energy executive from India told Fortune.
While India is acquiring more alternative supplies to help it ride out the war in Iran, it typically imports most of its oil from Saudi Arabia, Iraq, and Russia.