Following the outbreak of hostilities in the Middle East and the resulting global energy uncertainty, the Minister of Petroleum and Natural Gas, Hardeep Singh Puri, briefed the media that India is prepared to handle the evolving situation. He noted that the country is the third largest importer, the fourth largest refiner and the fifth largest exporter of petroleum products globally and that this scale underpins strategic response capabilities. The Minister indicated that authorities have assessed risks and put contingency plans in place to address potential short term disruptions to supply.

The Government reported that India is well stocked with crude oil and maintains inventories of key petroleum products including petrol, diesel and aviation turbine fuel to deal with short term interruptions arising from events in the Middle East. It was explained that stock levels across refineries and terminals have been reviewed and that logistical arrangements are in place to prioritise distribution where required. The account stressed that availability and affordability of energy for consumers remain central to policy decisions.

In recent years the Government has pursued diversification of crude and product procurement to reduce vulnerability to concentrated sea lane disruptions, and Indian energy companies now have access to supplies that are not routed through the Strait of Hormuz. Those alternative cargoes are expected to remain available and to mitigate the impact of shipments that may be temporarily affected en route through the strait. Officials emphasised that diversified sourcing complements domestic operational resilience.

The Ministry of Petroleum and Natural Gas has established a 24×7 control room to continuously monitor supply and stock positions of petroleum products across the country and to coordinate responses with operators. At present the Government is reasonably comfortable about national stocks while continuing close surveillance and readiness to act. Based on continuous monitoring the Government said it is cautiously optimistic that phased measures can be implemented if necessary to further mitigate the situation and safeguard consumer interests.