Punjab Newsline | New Delhi
Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday said that India currently has adequate strategic reserves of energy resources, ensuring uninterrupted supply across the country.
Speaking at the CII Annual Business Summit in Delhi, Puri stated that India holds approximately 60 days of crude oil reserves, 60 days of LNG stocks, and 45 days of LPG supplies, adding that there is no disruption or shortage in energy availability.
Referring to Prime Minister Narendra Modi’s recent appeal for responsible energy consumption, the minister said there was no need for panic or misinterpretation of the Prime Minister’s remarks. He urged people to carefully listen to the message instead of drawing “unfounded conclusions.”
Prime Minister Modi, in recent statements over the past two days, has encouraged citizens to reduce fuel consumption wherever possible and adopt public transport such as metro services and electric buses. He also advised limiting unnecessary foreign travel in the interest of energy conservation.
Puri further said that the government has ensured that disruptions in energy supply caused by the ongoing West Asia crisis have not been passed on to the public.
He noted that oil marketing companies are currently facing daily losses of around ₹1,000 crore, with cumulative losses expected to reach nearly ₹1.98 lakh crore. According to quarterly estimates, the total losses stand at around ₹1 lakh crore.
Highlighting global crude price volatility, the minister said that oil prices, which earlier hovered around $64–$65 per barrel, have now surged to nearly $115 per barrel, creating significant pressure on the global energy market.
