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Hardeep Singh Puri says India has over 60 days of crude, gas stocks; rules out any energy supply crunch
The minister said India has sufficient stocks of crude oil, natural gas and LPG to meet domestic demand.
Executive Summary
Union Petroleum and Natural Gas Minister Hardeep Singh Puri said India has more than 60 days of crude oil and natural gas stocks and 75-80 days of LPG reserves, assuring that the country faces no energy supply shortage despite rising geopolitical tensions following the Iran conflict. He also highlighted increased domestic LPG production and India's ability to shield consumers from sharp increases in global oil prices.
Key Takeaways
- ✓India has more than 60 days of crude oil and natural gas reserves.
- ✓LPG inventories are sufficient for 75-80 days.
- ✓Domestic LPG production has increased from 32,000 to 54,000 metric tonnes per day.
- ✓Global oil prices have risen due to tensions involving Iran.
- ✓India has managed to maintain relative stability in domestic fuel prices.
- ✓Diversified sourcing and strategic reserves are strengthening India's energy security.
- ✓The government continues to prioritize long-term energy resilience.
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