The Centre on Wednesday said India’s crude oil supply remains secure and uninterrupted, even as concerns grow over potential disruptions to global energy shipments amid escalating tensions in West Asia.
People queueing up at a petrol pump in Noida (HT Photo)
At a press briefing on Wednesday, a government official said the country currently has access to about 55 lakh barrels of crude oil per day, adding that the volumes secured today exceed what would normally have arrived through the Strait of Hormuz during this period.
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Supply stable despite US-Iran war
Officials stressed that the government and oil companies have taken steps to diversify supply sources and ensure that energy imports continue without disruption.
“India’s crude supply remains secure,” a senior government official said, adding that procurement arrangements in place currently provide sufficient volumes to meet the country’s demand.
The reassurance comes at a time when fears of supply disruptions have intensified due to the escalating conflict in West Asia and security concerns around key maritime routes.
Also read: 90% of India’s LPG imports travels through Hormuz Strait, but things in control, says govt
Strait of Hormuz disruption raises concerns
Tensions have been rising in the region after the US-Israeli attack on Iran on February 28 and the retaliation that followed, triggering volatility in global energy markets and concerns over shipping routes.
The Strait of Hormuz, a narrow maritime corridor connecting the Persian Gulf to global markets, has become a strategic chokepoint after Iran announced its closure following the attacks and the assassination of Supreme Leader Ayatollah Ali Khamenei.
The strait carries roughly one-fifth of global oil and gas trade, making it one of the most critical energy routes in the world.
Nearly half of India’s crude oil imports pass through the Strait of Hormuz, while a large share of LPG and LNG cargoes also travels along the same route.
What govt said on LPG
Another government official said an order was issued on March 8 directing refineries to maximise LPG production, while urging the public not to panic. The oil ministry said there is no need for panic LPG booking, adding that the normal delivery cycle for domestic households remains about 2.5 days.