India to source at least 15% US LPG by 2027
Business
India is aiming to get at least 15% of its liquefied petroleum gas (LPG) imports from the US by 2027.
To make this happen, big state refiners like Indian Oil, Bharat Petroleum, and Hindustan Petroleum have been told to lock in more long-term deals with American suppliers.
Refiners plan joint LPG tender
This shift started after India signed its first-term contracts with US suppliers earlier this year, bringing in about 10% of its LPG from the US so far.
The move comes as Middle Eastern supply got shaky due to conflicts near Iran, messing up shipments through key routes.
Now, the US has actually become India's top LPG supplier, and refiners are planning a joint tender to keep things steady and help balance trade talks with the US.