Experts Question Cost of Increased US Oil & Gas Imports
The US wants to boost oil and gas exports to India, but experts doubt its cost-effectiveness for Indian refiners.
Key Concerns:
Higher Costs – US crude has higher landing costs than discounted oil from Russia & Central Asia.
Longer Shipping Time – 6-7 days from the Middle East vs. 40-45 days from Texas.
Refinery Compatibility – Indian refiners must evaluate US crude specifications.
Possibilities for Growth:
LNG imports could rise faster due to competitive Henry Hub prices.
Crude imports may increase if pricing aligns with market trends.
Current Trade Scenario:
US oil exports to India have declined due to higher Russian imports post-Ukraine war.
India imports 85% of its crude oil from top global producers.
India’s petroleum trade with the US is worth $20 billion.
US crude share dropped from 10% in 2021 (450,000 barrels/day) to lower levels today.
India will only increase US oil imports if it becomes cost-competitive, experts say.
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