India Scours Angola, Venezuela for Crude as Mideast Supply Dries Up

Indian refiners are in search of crude supply from as far as Angola in Africa and Venezuela in South America as their term supplies from the Middle East are trapped again and unable to reach India as planned.

Some of the biggest state-held refiners in India, the world’s third-largest crude oil importer, are looking for and testing new crude grades, to offset part of the supply lost to the Middle East conflict, senior refinery executives told Indian outlet Economic Times.