India Fully Prepared Amid Evolving Situation in the Middle East – Energy Supplies Robust

Following the outbreak of hostilities in the Middle East and the evolving global energy situation, Shri Hardeep Singh Puri, Minister of Petroleum & Natural Gas, briefed the media on the country’s preparedness in the current circumstances.

It was informed that India is the third largest importer, fourth largest refiner, and fifth largest exporter of petroleum products globally. The country is well stocked with crude oil and inventories of key petroleum products including petrol, diesel and ATF to deal with short-term disruptions arising from the Middle East.

It was further apprised that in the last few years, India has ensured both availability and affordability of energy for its population by diversifying its sources. Indian energy companies now have access to energy supplies that are not routed through the Strait of Hormuz. Such cargoes will remain available and help mitigate supplies that may be temporarily affected enroute through the Strait of Hormuz.

The Ministry has established a 24×7 Control Room to continuously monitor the supply and stock position of petroleum products across the country. At present, the Government is reasonably comfortable in terms of stocks. Safeguarding the interests of Indian consumers remains the highest priority. Based on continuous monitoring, the Government is cautiously optimistic that phased measures can be taken, if required, to further mitigate the situation.