The central government has allowed the Krishnapatnam Port in Andhra Pradesh to import petroleum into India by sea. As per the notification by the Ministry of Ports, Shipping and Waterways, the port has been allowed to import petroleum by sea from August 25, 2024 to March 1, 2026. This move will help India refine more crude oil on its east coast and improve energy cost efficiency amid rising international fuel prices.
Additionally, various steps have been taken by the government to increase the production of domestic crude oil and reduce dependence on imports.