India Says It Has Secure Oil Supplies For Two Months

India-West News Desk

NEW DELHI – India has secured enough crude oil supplies to cover the next 60 days, cushioning the country against disruptions in shipments from the Middle East and ensuring continued fuel availability, according to a government statement released March 26.

The move comes as supply chains face strain due to the ongoing U.S.-Israeli conflict involving Iran, which has affected flows through key transit routes. India, the world’s third-largest oil consumer and importer, typically sources more than 40 percent of its crude from the Middle East, making it particularly vulnerable to such disruptions, Reuters noted.

Officials said increased availability of crude in global markets, especially from producers in the Western hemisphere, has helped offset the shortfall. At the same time, Indian refiners have taken advantage of a temporary U.S. waiver to significantly boost imports of Russian crude, securing millions of barrels to stabilize supplies, Reuters said in its reporting.

The oil ministry emphasized that the country’s diversified sourcing strategy is paying off. “Despite the situation at the Strait of Hormuz, India is today receiving more crude oil from its 41-plus suppliers across the world than what was previously arriving through the Strait,” the statement said.

As a net exporter of petroleum products, India said its domestic supply of petrol and diesel remains structurally secure. The government added that procurement for the next two months has already been locked in, ensuring consistent access to fuel regardless of global uncertainties.

To further safeguard energy needs, authorities have directed refiners to ramp up production of liquefied petroleum gas, widely used as cooking fuel. India has historically relied on the Middle East for about 90 percent of its LPG imports.

Domestic LPG output has been increased by roughly 40 percent to 50,000 metric tons per day, compared to a national requirement of 80,000 tons. In addition, Indian companies have secured about 800,000 tons of LPG shipments from suppliers in the United States, Russia, Australia and other countries.

These cargoes, arriving through the country’s 22 LPG import terminals, are expected to provide about one month of assured supply, with further purchases currently underway, the government said.