Defence Minister Rajnath Singh on Monday chaired a high-level meeting to review India's energy security in the wake of the escalating Gulf crisis. The meeting comes days after Prime Minister Narendra Modi urged citizens to conserve oil to reduce dependence on imports from the volatile region.
Meeting Focuses on Energy Contingency Plans
The meeting was attended by top officials from the Ministry of Petroleum and Natural Gas, Ministry of External Affairs, and the Defence Ministry. Discussions centered on contingency plans to ensure uninterrupted fuel supply, strategic petroleum reserves, and alternative sources of crude oil.
PM Modi's Appeal to Save Oil
Earlier, Prime Minister Modi had appealed to the nation to use fuel judiciously, emphasizing the need to reduce India's vulnerability to global oil price shocks. He urged citizens to adopt fuel-efficient practices and explore renewable energy alternatives.
India's Energy Dependence on Gulf
India imports over 80% of its crude oil requirements, with a significant portion coming from Gulf nations. The ongoing tensions in the region have raised concerns about supply disruptions and price volatility. The government is exploring options to diversify import sources and boost domestic production.
Strategic Petroleum Reserves
India has established strategic petroleum reserves (SPRs) at three locations, with a total capacity of about 5.33 million metric tonnes. The meeting reviewed the readiness of these reserves and discussed plans to expand storage capacity to meet 90 days of oil demand.
Alternative Energy Sources
The government is also accelerating efforts to increase the share of renewable energy, biofuels, and electric vehicles to reduce long-term dependence on fossil fuels. The meeting emphasized the need for a comprehensive energy security strategy.
International Cooperation
India is engaging with major oil-producing nations and international energy agencies to ensure stable supply. The meeting also reviewed diplomatic efforts to de-escalate tensions in the Gulf region.
The outcome of the meeting is expected to be shared with the Prime Minister's Office for further action.
