India turning to the Americas for oil, aiming to cut reliance on Middle East

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The world’s third-largest oil importer is diversifying oil imports away from the Middle East and is buying crude from North and South America, according to various reports. A first cargo of Brazil’s grade Tupi was booked by Mangalore Refinery and Petrochemicals Ltd., reported Bloomberg.

State-run Hindustan Petroleum Corporation and HPCL-Mittal Energy Ltd, have also placed a recent order from Guyana, reported Reuters noting that in February the United States became India’s second-largest crude supplier, bumping Saudi Arabia, and just behind Iraq.

By Milan Sime Martinic