India Looks to Boost Exploration as Hormuz Crisis Threatens Supply

India needs to boost domestic oil and gas exploration to enhance its energy security amid supply disruptions that drive energy prices higher, according to a senior official at state-owned exploration and production company Oil India Limited (OIL).

“Disruptions to global supply chains and major energy corridors can have an immediate impact on energy flows, prices and economies worldwide,” IOL’s Director of Finance, Abhijit Majumder, said at an energy industry event in India, as carried by local media.