India currently holds nearly two months of crude oil and liquefied natural gas reserves, Petroleum Minister Hardeep Singh Puri said.
These disclosures come as the Indian government seeks to reassure domestic and international markets. Volatile global energy prices and ongoing tensions in West Asia have created uncertainty regarding fuel security for the energy-importing nation.
Official data indicates that crude oil reserves stand at 60 days [1]. Natural gas stocks are also maintained at a 60-day level [1]. While some reports attribute these confirmations to Joint Secretary Sujata Sharma of the Ministry of Petroleum and Natural Gas, the ministry said there is no fuel shortage in the country [3].
To further stabilize the domestic market, the government is increasing the production of liquefied petroleum gas (LPG). Puri said the ministry is ramping up LPG production to 54,000 tonnes per day [4]. This move follows the maintenance of an LPG rolling stock of 45 days [1].
Despite the stability of these reserves, the financial burden on the energy sector remains significant. Indian oil companies are currently facing a daily loss of ₹1,000 crore [4]. This financial strain persists even as the government prioritizes the availability of fuel to prevent price shocks for consumers.
"India currently has nearly two months of crude oil and LNG reserves," Puri said.
He said that the increase in LPG production is a strategic step to ensure that supplies remain steady across the country. "We are ramping up LPG production to 54,000 tonnes daily to stabilise supplies," Puri said.
“India currently has nearly two months of crude oil and LNG reserves.”
India's decision to publicize its 60-day energy buffer is a strategic move to prevent panic buying and market speculation. By maintaining these reserves and boosting LPG production, the government is attempting to decouple domestic fuel availability from the immediate volatility of West Asian geopolitics, though the high daily losses for oil companies suggest that maintaining this stability carries a heavy fiscal cost.
