Daijiworld Media Network - New Delhi
New Delhi, Jun 22: In the wake of rising tensions in the Middle East, Petroleum and Natural Gas Minister Hardeep Singh Puri sought to reassure Indian consumers on Sunday that there would be no disruption in the country’s fuel supplies. The assurance comes amidst the ongoing Israel-Iran conflict and heightened geopolitical uncertainty following U.S. airstrikes on Iranian nuclear sites.
“We have been closely monitoring the evolving situation in the Middle East over the past two weeks. Under the leadership of Prime Minister Narendra Modi, India has significantly diversified its oil sources. A large share of our imports no longer passes through the Strait of Hormuz,” said Puri.
The minister emphasized that Indian oil marketing companies — including Indian Oil, Bharat Petroleum, and Hindustan Petroleum — have maintained steady reserves and continue to secure energy supplies through alternate routes. “We will take all necessary steps to ensure the stability of fuel supplies to our citizens,” he assured.
The Strait of Hormuz, a crucial oil transit route, lies just south of Iran and facilitates the movement of around 20 million barrels of oil daily from countries like Saudi Arabia and the UAE. Iran has previously threatened to block the strait if provoked by U.S. military action, prompting fears of a global oil supply disruption.
Compounding the risk, Yemen’s Houthi rebels have issued warnings of renewed attacks on international shipping in retaliation for any American strike on Iran. Analysts have cautioned that a wider regional conflict could sharply impact oil shipments from key Gulf producers — Saudi Arabia, Iraq, Kuwait, and the UAE — leading to surging prices, elevated inflation, and a strain on emerging economies like India.
India, which imports nearly 85% of its crude oil, is highly sensitive to price shocks. A rise in oil prices inflates the national import bill, fuels inflation, and weakens the rupee against the U.S. dollar, thereby impacting economic stability.
However, India’s recent efforts to diversify energy imports — including increased crude purchases from Russia and the United States — have reduced its reliance on the Gulf. The country has also strengthened its strategic reserves, which serve as a buffer during international supply disruptions.
Puri underscored the nation’s growing infrastructure capacity, highlighting 23 modern refineries with a combined capacity of 257 million metric tonnes per annum. He also detailed the current strategic petroleum reserves:
• Pudur: 2.25 million metric tonnes (MMT)
• Visakhapatnam: 1.33 MMT
• Mangalore: 1.5 MMT
• Chandikhol: A new facility under construction on the eastern coast
These reserves are designed to help mitigate the economic impact of global price volatility and offer oil companies flexibility during emergency situations.
While global energy markets remain on edge, Puri’s statement aims to project confidence in India’s preparedness and resilience, assuring citizens that fuel availability will be maintained even in the face of mounting regional instability.