New Delhi: Amid escalating hostilities in the Middle East and shifting global energy dynamics, Hardeep Singh Puri, Minister of Petroleum & Natural Gas, has said "India maintains ample stocks of crude oil, along with inventories of key petroleum products including petrol, diesel, and ATF, sufficient to weather short-term supply interruptions stemming from the Middle East".
Puri was briefing the media here in New Delhi on Tuesday on country's robust preparedness to handle potential disruptions.
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India stands as the third largest importer, fourth largest refiner, and fifth largest exporter of petroleum products globally. In recent years, the country has prioritized both availability and affordability of energy for its population through aggressive source diversification. Indian energy companies now secure supplies that bypass the Strait of Hormuz entirely. "Such cargoes will remain available and help mitigate supplies that may be temporarily affected enroute through the Strait of Hormuz," Hardeep Singh Puri emphasized.
Indian energy companies now secure supplies that bypass the Strait of Hormuz entirelyHardeep Singh Puri, Minister of Petroleum & Natural Gas
The minister informed that the Ministry of Petroleum & Natural Gas has activated a 24×7 Control Room to monitor petroleum product supplies and stock positions nationwide in real time. Government officials expressed comfort with current stock levels, underscoring that safeguarding Indian consumers' interests remains the top priority. Through ongoing surveillance, the government is cautiously optimistic and prepared to implement phased measures if needed to further stabilise the situation.
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