Beyond Hormuz: India’s Triple-Shield Energy Strategy Through Russian Crude, Latin American Diversification, and ONGC-BP Offshore Revival — A Case-Cum-Research Paper on Energy Security and Corporate Credit Risks
Beyond Hormuz: India’s Triple-Shield Energy Strategy Through Russian Crude, Latin American Diversification, and ONGC-BP Offshore Revival — A Case-Cum-Research Paper on Energy Security and Corporate Credit Risks Author: [Dr mamta vyas] Date: May 27, 2026 Location: Indore Keywords: Energy Security, Strait of Hormuz, Russian Crude, ONGC-BP Pact, Credit Conditions, Latin American Oil, African Oil, Current Account Deficit, India Oil Imports Abstract India’s energy security architecture entered a critical transition phase after tensions in the Strait of Hormuz disrupted one of the world’s most strategic oil transit corridors. With nearly 85% dependence on imported crude and almost half of those imports historically routed through Hormuz, India faced rising geopolitical and financial vulnerability during the 2026 Gulf tensions. In response, India rapidly diversified crude sourcing toward Latin America and Africa while simultaneously continuing discounted Russian im...