Centre nod for Adani’s Krishnapatnam Port to import petroleum

The Government of India has granted permission to the Adani Group-owned Krishnapatnam Port in Andhra Pradesh to import petroleum by sea. The central government issued an extension of the notification for Krishnapatnam Port to allow the import of petroleum into India by sea.

This authorization will remain effective from August 25, 2024, to March 1, 2026, under the operations permitted by the Navigational Safety at Ports Committee (NSPC). The inclusion of Krishnapatnam Port in the import network is expected to bolster India's capacity to refine crude oil on its east coast, thus improving energy cost efficiency, especially as international fuel prices continue to rise.

India’s dependency on oil and gas imports from regions such as the Middle East, Africa, Europe, North America, South America, and South-East Asia is substantial, with the country relying on imports for over 80 per cent of its crude oil needs.