India currently has enough crude oil to last 25 days and is actively exploring alternative sources for importing crude oil, LPG, and LNG to maintain energy security, government sources said on Tuesday amid rising tensions in the Middle East.
“India has 25 days of crude oil inventory and 25 days of petrol and diesel stock. Overall, the country holds about eight weeks’ worth of crude oil and petroleum products. Only 40% of India’s crude passes through the Strait of Hormuz, while the remaining 60% comes from other sources,” the source said.
The source also noted that India continues to import Russian crude under existing contracts and remains in a comfortable position regarding energy security, including LPG and LNG supplies.
The government has indicated that there are no immediate plans to raise petrol or diesel prices.
This update came after Hardeep Singh Puri, Minister of Petroleum and Natural Gas, briefed the media on India’s preparedness amid the current situation.
Taking to X, Hardeep Singh Puri wrote, “We discussed how the trilemma of energy availability, affordability, and sustainability continues to guide India’s approach under the leadership of PM Sh @narendramodi Ji, focusing on meeting the energy needs of our citizens. I informed the media that India has sufficient energy reserves to handle the ongoing situation. Senior officials from @PetroleumMin and captains of India’s PSU energy entities joined the interaction.”
According to a Press Information Bureau (PIB) release, India is the third-largest importer, fourth-largest refiner, and fifth-largest exporter of petroleum products globally. The country is well-stocked with crude oil and key products such as petrol, diesel, and aviation turbine fuel (ATF), ensuring it can handle short-term disruptions arising from the Middle East.
In recent years, India has diversified its energy sources to ensure both availability and affordability. Indian energy companies now have access to supplies that are not routed through the Strait of Hormuz, reducing the impact of any temporary disruption in oil shipments through the strategic waterway.
The Ministry has also established a 24×7 Control Room to monitor the supply and stock of petroleum products across the country. “At present, the government is reasonably comfortable in terms of stocks. Safeguarding the interests of Indian consumers remains the highest priority,” the PIB release said.
The Middle East conflict, which began over the weekend with US and Israeli strikes on Iran, has disrupted regional energy flows. The attacks, which killed Iran’s Supreme Leader Ali Khamenei, have triggered retaliatory strikes by Iran across the Gulf, including in Saudi Arabia, Qatar, and Dubai. The situation has raised concerns about global oil supplies and potential inflationary pressures. (Agencies)
