Petroleum Minister Hardeep Singh Puri has stated that India is well-prepared to handle any supply disruptions arising from the ongoing tensions in West Asia. Speaking at the CII Annual Business Summit 2026, Puri revealed that the country currently holds approximately 60 days of crude oil and LNG reserves, along with about 45 days of LPG stock.
Daily Losses for Oil Marketing Companies
Puri highlighted that oil marketing companies are incurring significant daily losses, amounting to around ₹1,000 crore per day. Despite these challenges, LPG production has been substantially increased to meet domestic demand. He emphasized that India has managed to turn the global energy crisis into an opportunity by securing supplies and stabilizing the market.
No Lockdown Plans
The minister clarified that there are no plans for a lockdown in response to the energy situation. He described Prime Minister Narendra Modi’s recent appeal for austerity as a wake-up call aimed at reducing fiscal pressure amid the Middle East conflict. Puri urged citizens to adopt energy-saving measures to support the nation's efforts.
Energy Security Amid Global Challenges
Puri noted that despite the volatile global energy landscape, India's strategic reserves and proactive measures have ensured energy security for its 1.4 billion population. The government continues to monitor the situation closely and is prepared to take further steps if necessary.
