India has sufficient crude oil and gas supplies despite tensions around the Strait of Hormuz, Petroleum Minister Hardeep Singh Puri said, adding that fuel availability and LPG deliveries remain stable.
The minister said the country currently has adequate crude oil stocks and stable energy supplies.
New Delhi: Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday assured that there is no shortage of fuel in India despite rising geopolitical tensions in West Asia.
Speaking in Parliament, the minister said the country currently has adequate crude oil stocks and stable energy supplies. He also urged the public not to spread misinformation or panic over fuel availability.
According to him, India’s crude oil procurement strategy has ensured sufficient supply even amid disruptions in global energy routes.
Puri highlighted that India has significantly reduced its reliance on the strategically important Strait of Hormuz for crude oil shipments.
Before the current conflict, around 45 per cent of India’s crude imports passed through the route. However, alternative sourcing has now increased to nearly 70 per cent of total imports, compared to about 55 per cent before the crisis began.
The minister said the diversification of supply routes has helped India maintain stability in its energy imports even as tensions in West Asia continue.
India now sources crude oil from about 40 countries, compared to just 27 suppliers in 2006-07. The government said this expansion has strengthened the country’s ability to manage disruptions in international markets.
Puri added that large liquefied natural gas shipments are arriving regularly through alternative supply routes. India has also secured energy cargoes from countries including the United States, Norway, Canada, Algeria and Russia. He said domestic refineries are currently operating at high capacity to ensure uninterrupted fuel production.
The government has also increased domestic LPG production to strengthen household supply. According to the minister, LPG output has risen by about 28 per cent in the past five days following directives issued to refineries.
Puri said the government’s priority is to ensure uninterrupted cooking gas supply for nearly 33 crore Indian households, particularly for economically weaker sections. He added that LPG delivery timelines remain unchanged and domestic supply chains are functioning normally
