India’s crude oil supply remains secure despite the ongoing crisis in West Asia that has disrupted several global energy routes, according to Sujata Sharma, Joint Secretary at the Ministry of Petroleum and Natural Gas. Speaking at a joint press briefing on Wednesday, Sharma said India has been able to maintain stable supplies through diversified sourcing of crude oil.
Crude Supply Secure
“India’s crude supply remains secure. Our daily consumption is about 55 lakh barrels. Through diversified procurement, the volumes we have secured today exceed what would normally have arrived through the Strait of Hormuz during this period,” Sujata Sharma said at the briefing.
Amid concerns over LPG supplies being affected by tensions in West Asia, Sharma said the government has stepped in to absorb a major part of the cost increase to shield consumers from the impact.
“Currently, LPG is being directed to the domestic sector. For non-domestic LPG, priority is being given to essential sectors such as hospitals and educational institutions. The committee is consulting with state authorities and industry bodies to finalise the plan to ensure that available LPG is distributed fairly and transparently,” she said while addressing the inter-ministerial press briefing.
LNG Cargoes On The Way
She also confirmed that additional LNG supplies are on their way to India to support the country’s energy requirements. “Our gas companies have procured LNG cargoes from new sources. Two LNG cargos are on their way to India,” she said.
Providing further details about crude oil imports, Sharma noted that India sources crude from around 40 different countries. She added that domestic refineries are currently running at full capacity and in some cases even beyond to maintain a steady supply of petroleum products across the country.
LPG Supply Priority
The government has also decided to prioritise natural gas supply for critical sectors. These include tea production, gas grid operations and related activities, as well as fertiliser manufacturing, which are essential for agriculture and industrial production.
Sharma also highlighted India’s dependence on LPG imports. She said the country imports about 60 per cent of its LPG requirement, and nearly 90 per cent of these imports usually pass through the Strait of Hormuz, one of the world’s most important energy shipping routes.
Domestic LPG Production Boost
To improve domestic availability, the government has directed refining and petrochemical units to increase LPG production. According to Sharma, this effort has already boosted domestic LPG output by around 25 per cent.
The additional production is being mainly directed towards household consumers to ensure that cooking gas supplies remain uninterrupted. For commercial LPG use, the government has identified priority sectors such as educational institutions and hospitals so that essential services continue without disruption.
Sharma also appealed to consumers not to panic-book LPG cylinders. “As a temporary demand management measure, the minimum gap between LPG bookings has been increased from 21 days to 25 days,” she said.
(With inputs from ANI)
