India Secures New Oil & LPG Suppliers, Bypassing Strait of Hormuz Risks

• India accelerates new crude oil and LPG supply contracts amidst West Asian tensions and Strait of Hormuz disruptions.
• Negotiations with various countries, including Russia, are underway to secure energy at economically favorable rates.
• The Strait of Hormuz, critical for 40% of India's oil, faces disruptions due to US-Israel-Iran conflict, impacting global oil markets.
• India has diversified energy sources, increasing suppliers from 27 to 41 over 11 years, ensuring no fuel or gas shortage.
• Government assures LPG supply with a 25% domestic production increase and urges against panic buying.