India currently has adequate stocks of crude oil and petroleum products such as petrol, diesel and aviation turbine fuel (ATF) to manage potential short-term supply disruptions arising from the ongoing crisis in the West Asia, Petroleum and Natural Gas Minister Hardeep Singh Puri said while briefing the media on the country’s preparedness in the current circumstances on Tuesday.
According to Puri, Indian energy companies now have access to crude supplies that do not pass through the Strait of Hormuz, helping mitigate any disruption to shipments along the critical route.
The Ministry of Petroleum and Natural Gas has also set up a 24×7 control room to monitor fuel supply and stock levels across the country. The government said it is “reasonably comfortable” with the current stock position.
Officials added that safeguarding consumer interests remains the top priority and the government will continue to closely track the situation and take phased measures if required to manage supply disruptions.
The minister added that India is the world’s third-largest crude oil importer, fourth-largest refiner and fifth-largest exporter of petroleum products. He added that the country has built resilience in its energy supply chain by diversifying crude sourcing in recent years.
