The West Asian crisis, which lasted for more than 100 days, has changed India’s crude and gas purchases altogether, with the country’s dependence on crude, LNG and LPG shifting from one supplier to another.
The war involving Iran, Israel and the US is considered one of the most impactful conflicts for the oil industry. It disrupted the supply chain of crude and gas through the Strait of Hormuz, a major route that handles around 20% of global crude and natural gas supplies.
For India, the route, before the war began on February 28, 2026, was a major source of imports, accounting for around 90% of LPG, 60% of LNG and 40% of crude imports.
The country has now almost diversified its imports to other suppliers. In fact, some countries that were among the top suppliers before the war have become zero contributors to India’s energy purchases.
For instance, Qatar, which was once the top supplier of India’s LNG, supplied none in August, according to maritime intelligence firm Kpler. The decline in Qatari supplies has coincided with a sharp increase in US LNG shipments.
The US retained its top position, supplying 0.859 MMT of LNG in August 2026, representing nearly 35% of India’s monthly total intake. It was followed by Nigeria, which exported 0.541 MMT, or around 22%, while Oman was the third-largest supplier, delivering 0.525 MMT of LNG.
The UAE supplied 0.244 MMT, accounting for 9.9%, closely followed by Mozambique, which exported 0.226 MMT, or 9.2%. Australia supplied 0.069 MMT, or 2.8%, of LNG.
The same is the case with LPG, which is used as cooking gas in India. The United States delivered 0.719 MMT of LPG to India in August 2026, following a record peak of 0.893 MMT in July. Deliveries from traditional heavyweights crashed significantly. The UAE supplied 0.176 MMT (175.8 TMT), while Kuwait and Qatar delivered 0.148 MMT and 0.065 MMT, respectively. Sourcing from Saudi Arabia remained effectively absent for a second consecutive month. India offset the remaining gaps by bringing in spot and contract cargoes from North Africa, led by Algeria, which supplied 0.156 MMT, and smaller volumes from Argentina, which supplied 0.017 MMT.
In terms of crude, at the beginning of 2026, India’s basket was heavily concentrated around Russia, Saudi Arabia and Iraq. By August, Russia remained dominant, but there were meaningful volumes from the UAE, Venezuela, Saudi Arabia, Angola, Brazil, Nigeria, and the US. According to Kpler data, Russia remained the top supplier at 2.080 mb/d, with around 37% share, though down from its peak of 2.820 mb/d in July.
The UAE was the second-largest identified country supplier at 0.512 mb/d, or 9.1%, while Venezuela stepped up significantly as the third-largest country supplier at 0.350 mb/d, with a 6.2% share.
Traditional West Asian suppliers saw a decline, with Saudi Arabia falling to 0.332 mb/d, down from 1.060 mb/d in February, while Iraq dropped to 0.163 mb/d, down from 1.020 mb/d in January.
