The central government has allowed the Adani Group-owned port at Krishnapatnam in Andhra Pradesh to import petroleum into India by sea in the public interest.

Considering the public interest in importing petroleum, the central government extended the notification for Krishnapatnam Port in Andhra Pradesh (M/S Adani Krishnapatnam Port Limited) to import petroleum into India by sea.

These imports shall be by operations permitted in the Navigational Safety at Ports Committee (NSPC) from August 25, 2024, to March 1, 2026.This additional port will help India refine more crude oil on its east coast and improve energy cost efficiency amid rising international fuel prices.

The country imports oil and gas from various geographical regions including countries from the Middle East, Africa, Europe, North America, South America and South-East Asia. India depends on imports for over 80 per cent of its crude oil requirement.

At the same time, the government has taken various steps to increase the production of domestic crude oil and reduce imports.

Adani Group company Adani Ports and SEZ represents a large network of ports with India’s largest SEZ at Mundra. The port business is integral to the conglomerate’s logistics business and is India’s largest private port operator, with a presence across 13 locations.