New Delhi: India has adequate crude oil and petroleum product stocks to manage any short-term supply disruptions stemming from escalating tensions in the Middle East, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday, seeking to reassure markets and consumers amid concerns over the evolving geopolitical situation.
Addressing a media briefing on the country’s energy preparedness, Puri said the government was closely monitoring developments following the outbreak of hostilities in the region, a key hub of global oil production and transit. While he did not disclose a detailed break-up of current inventories, officials indicated that stocks of crude oil and key petroleum products, including petrol, diesel and aviation turbine fuel (ATF), were at comfortable levels.
“Held a very positive informal interaction with members of the media fraternity to brief them about various aspects of the energy scenario in the light of the geopolitical situation in the Middle East. We discussed how the trilemma of energy availability, affordability and sustainability continues to guide India’s approach under the leadership of PM Sh @narendramodiJi which is focused on meeting the energy requirements of our citizens. Informed the media persons that India has sufficient energy reserves to deal with the ongoing situation. Was joined by senior officials of @PetroleumMin and captains of India’s PSU energy entities at the interaction,” he posted on X.
According to the latest available data from the Petroleum Planning and Analysis Cell, India maintains crude oil stocks sufficient for several weeks of consumption when combining strategic reserves and inventories held by public sector oil marketing companies and refiners. The country’s strategic petroleum reserves, stored at underground facilities in Visakhapatnam, Mangaluru and Padur, are estimated to cover around 9 to 10 days of net imports. When added to commercial inventories held by refiners and oil marketing companies, total crude and product stocks are understood to provide a cushion of roughly 70 to 75 days of demand under normal consumption patterns.
Reporters were informed that the ministry has operationalized a 24×7 Control Room to continuously monitor the supply chain and stock position of petroleum products across states. “At present, the government is reasonably comfortable in terms of stocks. Based on continuous monitoring, the Government is cautiously optimistic that phased measures can be taken, if required, to further mitigate the situation,” officials said.
India, the world’s third-largest crude oil importer, depends on imports for over 85 per cent of its oil requirements, making it vulnerable to supply disruptions and price volatility. A significant portion of global crude and petroleum trade passes through the Strait of Hormuz, a critical chokepoint connecting the Persian Gulf with international markets.
Officials highlighted that in recent years Indian energy companies have diversified sourcing, increasing purchases from countries such as Russia and the United States, alongside traditional suppliers in West Asia. Some of these cargoes do not transit the Strait of Hormuz, reducing exposure to potential disruptions along that route. Supplies contracted through alternative routes are expected to remain available even if shipments through the strait face temporary delays.
The government reiterated that safeguarding consumer interests remains its top priority. India is currently the third largest importer, fourth largest refiner and fifth largest exporter of petroleum products globally, giving it significant operational flexibility in managing both domestic demand and export commitments amid external shocks.