An official said on Thursday that once the government is convinced that global conditions have returned to normal, it will begin unwinding the emergency energy-security measures it handed out during the West Asia crisis. Concerns about potential disruptions to international oil and gas supply chains prompted the implementation of precautionary measures, including increased monitoring of LPG supplies, a reorganisation of domestic natural gas allocations, and stronger measures to prevent fuel hoarding. These measures were put in place over the past three months to safeguard domestic energy availability.
The announcement of the terms of the interim deal that the US and Iranian presidents inked to end their 111-day conflict has caused a change in perspective. India is one of the world’s biggest oil purchasers, and this contract offers hope that the Strait of Hormuz would be reopened or at least normalised for shipping.We have been keeping tabs on how things are developing. Once we have confidence that the situation globally has normalised, we will examine and ease the steps that were taken, the official added.
During a time of extreme global uncertainty, the official explained, the government is taking preventative measures to ensure a steady supply of vital fuel. “As the international situation normalises and supply risks recede, the government will review these restrictions and consider their phased withdrawal,” he said.
Image: India News
Disclaimer: All news articles are sourced through valid sources, and Business Unlimited (BU) doesn’t have any exclusive rights on these pieces. If BU features any exclusive story or article, it will be marked as Exclusive Story.
