India eyes further oil exploration after Iran war shortages

India eyes further oil exploration after Iran war shortages The import-heavy nation is looking at huge ‘unexplored’ areas off the Andaman and Nicobar archipelago bordering Thailand and Indonesia India, the world’s third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the conflict between the United States and Iran. With a temporary US-Iran deal in place to pause hostilities, oil and gas shipments are flowing through the Gulf waterway again, and restrictions and price hikes in India are being rolled back. But Minister of Petroleum and Natural Gas Hardeep Singh Puri said the energy crunch provided fresh impetus for India’s expansion of domestic supplies. “We are currently in the process … to bid out about 250,000 sq km (96,500 square miles) of unexplored area,” Puri said. India is a modest producer in global terms.