India-US talks for Gulf oil marine cover
Analysis based on 7 articles · First reported Mar 05, 2026 · Last updated Mar 05, 2026
The market is impacted by potential supply disruptions from the Middle East, leading to increased oil and gas prices. India's efforts to diversify its energy sources and secure marine cover are aimed at stabilizing its domestic market and ensuring continued economic activity.
India is engaged in discussions with the United States to secure marine insurance for vessels transporting oil from the Middle East, aiming to protect buyers from potential supply disruptions due to the Gulf crisis. US President Donald Trump has authorized the United States===U.S. International Development Finance Corporation to provide political risk insurance and financial guarantees for maritime trade in the Gulf, and the US Navy may escort vessels through the Strait of Hormuz. India, a major oil importer, relies heavily on the Middle East for its energy needs. Consequently, India is exploring alternative oil and gas sources, including Russia and the United States, and is in talks with companies like Sonatrach, Abu Dhabi National Oil Co, TotalEnergies, Vitol, and Trafigura. The crisis has already led to Mangalore Refinery and Petrochemicals Limited suspending exports and Qatar halting gas production, impacting Indian industries. India's oil minister, Hardeep Singh Puri, has consulted with the International Energy Agency and the OPEC on the market situation.
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