No fuel shortage in India, Crude oil and LPG stocks sufficient: Hardeep Singh Puri
Union Petroleum and Natural Gas Minister Hardeep Singh Puri assured that India faces no immediate fuel supply concerns, stating that the country has adequate reserves of crude oil, LNG and LPG despite rising tensions in West Asia.
Addressing the CII Annual Business Summit, Puri said India currently has crude oil and LNG reserves sufficient for 69 days, while LPG stocks are available for up to 45 days.
“There is no supply issue. We have 69 days of crude oil and LNG stock, and 45 days of LPG stock,” the minister said.
To strengthen cooking gas availability, the government has significantly increased LPG production amid the ongoing geopolitical crisis in the Middle East.
According to Puri, daily LPG production has been raised from around 35,000-36,000 tonnes to nearly 54,000 tonnes.
“LPG production has been ramped up from 35,000-36,000 tonnes per day to 54,000 tonnes amid the West Asia conflict,” he said.
The minister added that the government has handled the evolving situation responsibly and ensured uninterrupted fuel availability across the country.
“We managed the crisis with responsibility; there have been no dryouts anywhere,” he said.
Puri also backed PM Modi’s recent austerity appeal, describing it as a warning sign for citizens and policymakers to adopt measures that reduce economic pressure caused by the conflict in West Asia.
“Prime Minister Narendra Modi’s austerity appeal is a wake-up call to start thinking of measures to lessen fiscal strain from the West Asia conflict,” the minister said.
Earlier this week, PM Modi urged citizens to reduce petrol and diesel consumption, use public transport and metro services, adopt carpooling, increase electric vehicle usage, and work from home where possible.
The Prime Minister also appealed to people to postpone non-essential foreign travel and gold purchases for one year in an effort to conserve foreign exchange reserves during the ongoing global crisis.
