A senior government source stated that India is well-stocked on petroleum products such as petrol, gasoline and liquefied petroleum gas (LPG) and that the country’s access to crude oil and fuel is unaffected by the supply disruptions caused by tensions in the Middle East.
The government has diversified its energy sources and is increasing imports from non-Gulf locations to compensate for disruptions in the Strait of Hormuz, a vital global oil shipping route impacted by the continuing confrontation between Iran and other countries, according to the official.
Crude oil imports to India from Russia have also surged since 2022. According to the official, India’s imports of crude oil increased from 0.2% in 2022 to over 20% in February, when daily imports reached 1.04 million barrels.
According to the government, the Mangalore Refinery and Petrochemicals Limited (MRPL) is fully functioning and has sufficient inventory, dispelling rumours of a closure.
Refiners have been instructed by the Ministry of Petroleum and Natural Gas to prioritise domestic consumption and maximise production of liquefied petroleum gas (LPG) in order to ensure a steady supply for the country. There will be cooking fuel shortages if refining companies don’t prioritise LPG production over other uses for important gases like propane and butane.
