Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday sought to calm concerns over fuel availability amid escalating tensions in West Asia, saying India currently faces no immediate energy supply crisis.
Addressing the CII Annual Business Summit, Puri said the country has crude oil and LNG reserves sufficient for 69 days, along with LPG stocks that can last for around 45 days.
“There is no supply issue, have 69 days of crude oil, LNG stock and 45 days of LPG stock,” the minister said, while assuring that fuel and cooking gas supplies remain stable across the country.
LPG Production Increased Sharply Amid Crisis
Puri said the government has significantly increased LPG production in response to the ongoing geopolitical tensions in the Middle East.
According to the minister, daily LPG production has been raised from around 35,000-36,000 tonnes to nearly 54,000 tonnes to strengthen domestic supply.
“LPG production has been ramped up from 35,000-36,000 tonnes/day to 54,000 tonnes amid West Asia conflict,” he said during the summit.
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Government Says Fuel Supplies Remain Stable
The minister also stressed that the government has handled the situation responsibly so far and ensured the uninterrupted availability of fuel and cooking gas nationwide.
“We managed the crisis with responsibility; there have been no dryouts anywhere,” Puri said.
His remarks come as global energy markets continue to remain volatile because of rising tensions in West Asia, a region that plays a critical role in international oil and gas supplies.
Modi’s ‘Austerity Appeal’ Linked to Economic Pressures
Puri also referred to Prime Minister Narendra Modi’s recent appeal for austerity, saying the message should encourage both policymakers and citizens to think seriously about reducing financial pressure caused by the ongoing conflict.
“PM Narendra Modi’s austerity appeal is a wake up call to start thinking of measures to lessen fiscal strain from West Asia conflict,” the minister said.
The comments underline growing concerns within the government about the long-term economic impact of sustained geopolitical instability and rising import costs.
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PM Modi Urged Citizens to Cut Fuel Use
Earlier on Sunday, Prime Minister Modi had outlined a series of measures aimed at conserving foreign exchange and reducing pressure on the economy.
The prime minister encouraged citizens to reduce petrol and diesel consumption, use metro services in urban areas, adopt carpooling and increase the use of electric vehicles wherever possible.
He also advocated shifting parcel transportation to railways and promoting work-from-home arrangements to reduce fuel consumption.
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