India rejects reports of crude oil swap deal with Japan
India has no crude-for-LPG swap deal with Japan as current regulations prohibit such exports. An official clarified that the nation does not export crude oil.
The government of India has clarified that there is no agreement in place for a crude-for-LPG swap deal with Japan. This statement comes in response to recent speculation regarding potential energy exchanges between the two nations. According to Sujata Sharma, joint secretary in the oil ministry, current regulations prohibit the export of these specific energy resources. > Our rules do not allow crude oil and LPG exports. The clarification follows reports suggesting that INPEX CORP might consider a deal to supply liquefied petroleum gas (LPG) to the Indian market in exchange for naphtha and crude oil. While the global energy market remains volatile, with prices for Brent Crude Oil frequently fluctuating, the Indian government maintains a strict stance on its domestic resource management and export limitations.
