Modi government ensures steady fuel supply amid Middle East conflict
What's the story
India, the world's third-largest oil importer and fourth-biggest gas buyer, has sufficient energy supplies to last for several weeks. The assurance comes from the Minister of Petroleum and Natural Gas of India, Hardeep Singh Puri, amid rising tensions in some of the world's most critical energy-producing regions. He also emphasized that India continues to receive energy supplies through multiple routes, ensuring stability despite geopolitical uncertainties.
Supply diversification
India has diversified its energy supply sources
Puri noted that under Prime Minister Narendra Modi's leadership, India has diversified its energy supply sources over the past few years. He further clarified that a large volume of these supplies does not come through the Strait of Hormuz, an important transit for oil from the Middle East. The statement comes amid rising geopolitical tensions that could impact the Strait of Hormuz.
Twitter Post
Take a look at the minister's post
We have been closely monitoring the evolving geopolitical situation in the Middle East since the past two weeks. Under the leadership of PM @narendramodi Ji, we have diversified our supplies in the past few years and a large volume of our supplies do not come through the Strait…
— Hardeep Singh Puri (@HardeepSPuri) June 22, 2025
Import details
Puri's assurance amid rising global oil prices
India imports around 5.5 million barrels per day (bpd) of crude oil, with about two million bpd transiting through the Strait of Hormuz. However, Puri assured that India has diversified its sources from Russia to the US and Brazil, which could easily fill any gap. He also said that our oil marketing companies have supplies for several weeks and continue to receive energy supplies from several routes.
Twitter Post
'There is no cause for any alarm'
#WATCH | Israel-Iran conflict | Cork, Ireland: Union Minister Hardeep Singh Puri says, "... As far as the global situation today is concerned, the escalation of tensions in the Middle East was not entirely unexpected. We had foreshadowed this. The government, under the PM, has… pic.twitter.com/UwAGEVWdQb
— ANI (@ANI) June 22, 2025
Price impact
Global oil prices surge to highest level since January
Global oil prices have surged to their highest level since January, following escalating tensions, including Israel's airstrikes on Iran. The benchmark Brent crude rates rose over 10% to $77 a barrel. Despite the spike, oil prices remain over 10% lower than last year's levels and are still below the $100 a barrel rate seen in early 2022 after Russia invaded Ukraine.
Supply assurance
India will ramp up crude supplies from other sources
Puri also said that India would ramp up crude supplies from other sources if needed. He said, "We are in touch with all possible actors... It is our hope, and we all expect that the situation will result in calm and de-escalation rather than further escalation." This statement comes as PM Modi received a call from Iranian President Masoud Pezeshkian about the Iran-Israel conflict.