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India Confirms Sufficient Fuel Reserves for 60 Days
(MENAFN) India has sufficient fuel reserves to meet the nation’s demand for the next 60 days, the government confirmed, dismissing recent media reports suggesting a shortage.
The Ministry of Petroleum and Natural Gas cautioned the public against being “misled by media reports that the South Asian nation is facing depleting oil reserves.”
“There is no shortage of petrol, diesel, or LPG in the country,” the Oil Ministry said on Thursday, describing the reports as “a deliberately mischievous, coordinated campaign of misinformation that is being carried out to spread unjustified panic.”
“When the rest of the world has been taking drastic fuel conservation measures such as odd-even, four-day work weeks, school and office closures and increasing fuel prices by 20-30%...India remains an oasis of energy security,” Oil Minister Hardeep Singh Puri wrote in an X post on Friday.
As the world’s fourth-largest refiner and fifth-largest exporter of petroleum products, India continues to supply refined fuels to more than 150 countries, the ministry added.
The Press Information Bureau’s Factcheck division highlighted on X that the country maintains a reserve capacity of 74 days and a stock cover of roughly two months.
“All 1 lakh [100,000]-plus retail fuel outlets across the country are open and dispensing fuel without interruption. Not a single outlet has been asked to ration supply,” the Oil Ministry emphasized in a statement.
India is now importing more crude oil from its network of 41-plus global suppliers than it did before the ongoing Middle East conflict, the ministry noted.
To secure domestic fuel supplies for its 1.4 billion people, New Delhi has invoked special legislation to accelerate gas pipeline projects and maintain LPG availability.
The US-Israeli conflict with Iran has largely disrupted shipping through the Strait of Hormuz, a key route for about 40% of India’s crude oil and 55% of its liquefied natural gas (LNG) imports.
However, Iranian Foreign Minister Abbas Araghchi confirmed that Indian ships have been allowed passage through the strait.
The Ministry of Petroleum and Natural Gas cautioned the public against being “misled by media reports that the South Asian nation is facing depleting oil reserves.”
“There is no shortage of petrol, diesel, or LPG in the country,” the Oil Ministry said on Thursday, describing the reports as “a deliberately mischievous, coordinated campaign of misinformation that is being carried out to spread unjustified panic.”
“When the rest of the world has been taking drastic fuel conservation measures such as odd-even, four-day work weeks, school and office closures and increasing fuel prices by 20-30%...India remains an oasis of energy security,” Oil Minister Hardeep Singh Puri wrote in an X post on Friday.
As the world’s fourth-largest refiner and fifth-largest exporter of petroleum products, India continues to supply refined fuels to more than 150 countries, the ministry added.
The Press Information Bureau’s Factcheck division highlighted on X that the country maintains a reserve capacity of 74 days and a stock cover of roughly two months.
“All 1 lakh [100,000]-plus retail fuel outlets across the country are open and dispensing fuel without interruption. Not a single outlet has been asked to ration supply,” the Oil Ministry emphasized in a statement.
India is now importing more crude oil from its network of 41-plus global suppliers than it did before the ongoing Middle East conflict, the ministry noted.
To secure domestic fuel supplies for its 1.4 billion people, New Delhi has invoked special legislation to accelerate gas pipeline projects and maintain LPG availability.
The US-Israeli conflict with Iran has largely disrupted shipping through the Strait of Hormuz, a key route for about 40% of India’s crude oil and 55% of its liquefied natural gas (LNG) imports.
However, Iranian Foreign Minister Abbas Araghchi confirmed that Indian ships have been allowed passage through the strait.
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