New Delhi is breathing easy as the Iran conflict rattles global energy markets. Government officials confirm that India maintains ample stockpiles of crude oil, petrol, diesel, and LPG, shielding the nation from immediate supply disruptions.
A senior petroleum ministry source revealed that reserves far exceed any potential losses from the Strait of Hormuz, a critical chokepoint for global oil trade. ‘We are in a comfortable position,’ the official stated, emphasizing that oil companies are ramping up imports from non-Gulf sources to offset any shortfalls.
Since 2022, Russia has emerged as a key supplier. India’s crude imports from Russia surged from a mere 0.2% of total volumes to nearly 20% by February, with daily imports hitting 1.04 million barrels. This diversification has bolstered energy security.
Rumors of MRPL refinery shutdowns have been debunked. All LPG-producing units operate at full capacity, with stockpiles ensuring no consumer shortages. The ministry has directed refineries to prioritize LPG output using propane and butane, safeguarding household gas supplies.
Even as Middle East tensions disrupt shipping and Qatar’s LNG exports falter, India stands prepared. Petrochemicals stand ready as a backup for domestic needs. The government assures no panic is warranted, with strategies in place to maintain uninterrupted supply chains.