India fully prepared, energy supplies robust: Centre amid Middle-East conflict
What's the story
India is well-prepared to tackle any short-term disruptions in energy supplies due to the current situation in the Middle East, Petroleum and Natural Gas Minister Hardeep Singh Puri said. The minister said that the country is fully stocked with crude oil and key petroleum products such as petrol, diesel, and aviation turbine fuel (ATF) to deal with short-term disruptions arising from the Middle East.
PIB
India has ensured both availability and affordability of energy
"It was further apprised that in the last few years, India has ensured both availability and affordability of energy for its population by diversifying its sources," the ministry said. "Indian energy companies now have access to energy supplies that are not routed through the Strait of Hormuz. Such cargoes will remain available and help mitigate supplies that may be temporarily affected enroute through the Strait of Hormuz."
Consumer safeguard
Control room set up to monitor situation
The Ministry of Petroleum and Natural Gas also said it has set up a 24x7 Control Room to monitor the supply and stock position of petroleum products across India. The government is "reasonably comfortable" with its stocks and is committed to protecting Indian consumers' interests, Puri said. He added that phased measures can be taken if required based on continuous monitoring of the situation.
Price stability
Alternative sources for importing crude oil, LPG, LNG
ANI, citing government sources, said India currently has around 25 days of crude oil and refined oil stocks. The country is also looking for alternative sources for importing crude oil, liquefied petroleum gas (LPG), and liquefied natural gas (LNG). Despite the tensions in West Asia, the sources said there are no immediate plans to increase petrol or diesel prices in India.