Adani’s Krishnapatnam Port gets Govt nod to import petroleum, boosting India’s energy security.

The central government has granted approval for Adani Group's Krishnapatnam Port in Andhra Pradesh to import petroleum by sea, citing public interest. The move aims to bolster India’s energy security and cost efficiency amid fluctuating global fuel prices.

The approval extends operations at Krishnapatnam Port under the Navigational Safety at Ports Committee (NSPC) framework from August 25, 2024, to March 1, 2026. This addition will enable increased crude oil refining capacity on India’s east coast, offering logistical and economic advantages.

India, which imports over 80% of its crude oil requirements, sources petroleum from regions including the Middle East, Africa, Europe, and the Americas. While the government continues efforts to boost domestic crude production, the dependency on imports remains critical to meeting energy demands.

Krishnapatnam Port, operated by Adani Ports and SEZ (APSEZ), is a part of the conglomerate’s extensive logistics network. APSEZ, India’s largest private port operator, manages operations across 13 locations, with Mundra hosting the country’s largest Special Economic Zone.

The approval aligns with India's broader strategy to optimize its energy supply chain and enhance cost efficiencies in petroleum imports.

HBL