Synopsis: Hardeep Singh Puri assures that India has sufficient crude oil, LNG, and LPG reserves despite the West Asia crisis, while the government ramps up production to avoid fuel supply disruptions.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri has assured that India faces no immediate fuel supply disruption despite escalating tensions in West Asia. Addressing the CII Annual Business Summit, Puri stated that the country currently holds enough crude oil and LNG reserves for 69 days, while LPG stocks are sufficient for 45 days, easing concerns over a potential energy crisis triggered by geopolitical instability in the region.
The minister also highlighted that the government has significantly increased domestic LPG production from around 35,000–36,000 tonnes per day to nearly 54,000 tonnes per day to strengthen energy availability amid supply chain disruptions linked to the Strait of Hormuz crisis. He stressed that there is no rationing plan under consideration and dismissed fears of any lockdown-like restrictions following Prime Minister Narendra Modi’s recent appeal for fuel conservation and austerity measures.
Puri’s remarks come at a time when global crude oil prices remain volatile due to continuing tensions in West Asia, which have disrupted shipping routes and increased import costs for several countries dependent on Gulf energy supplies. India, which imports a major share of its crude oil and natural gas requirements, has been diversifying sourcing strategies and enhancing refining capacity to minimise the impact of global disruptions.
The minister further noted that the government has maintained stable petrol and diesel prices for nearly four years despite a sharp rise in global crude prices. However, he acknowledged that state-run oil marketing companies are currently absorbing heavy losses to shield consumers from inflationary pressures. According to Puri, oil companies are collectively losing nearly ₹1,000 crore per day while continuing to sell fuel below market-linked costs.
The government’s reassurance is aimed at calming markets and consumers amid rising concerns over fuel availability, inflation, and the broader economic impact of the ongoing West Asia conflict.