India will continue its pragmatic policy in the field of oil purchases, focusing on the most favorable prices, the country’s Oil Minister Hardeep Singh Puri said on Wednesday.
"We are very clear in our minds that we will buy oil from wherever we can get it as long as it is delivered to our point of importation at our ports at the lowest possible price," said the Oil Minister in an interview with ET Now.
India, the world's third-biggest oil importer, buys more than 80% of its oil from overseas, and currently, it is buying crude oil from Russia. India has emerged as Russia's second-largest crude importer after China.
New Delhi has imported over two million barrels per day (bpd) from Moscow for two months in succession, taking the latter's contribution to the former's oil basket to nearly 45 percent.