Panel To Review Domestic Petroleum Production Amid West Asia Crisis

11 May 2026 CW Team

Deliberations will include safety and security in the transportation of petroleum products and the adequacy of strategic reserves. India imports nearly 88 per cent of its crude oil requirements and relies on the Strait of Hormuz, which accounts for around 40 per cent of crude imports, 50 per cent of liquefied natural gas (LNG) imports and nearly 90 per cent of liquefied petroleum gas (LPG) imports. The committee will examine how reduced vessel movements through the chokepoint have affected supply chains.

India depends on imports for around 60 per cent of its LPG requirement, and nearly 90 per cent of those imports pass through the Strait of Hormuz, placing roughly 55 per cent of domestic LPG consumption volumes at risk during the disruption. LPG imports reportedly halved during March and April 2026 owing to supply constraints, while domestic refineries increased production by nearly 40 per cent and met around 55 per cent of demand compared with nearly 40 per cent earlier. The panel will assess options for closing remaining supply gaps and for supporting distribution and retail networks.

The issue of strategic petroleum reserves is expected to be discussed as the government currently maintains a combined reserve cover of nearly 50 days of crude and refined products. The committee will evaluate whether existing stocks are sufficient to manage prolonged supply interruptions and consider recommendations to enhance preparedness. A detailed briefing from officials and entities is expected to inform any follow-up oversight.

The Parliamentary Standing Committee on Petroleum and Natural Gas will review domestic production of petroleum products and assess energy security amid disruptions linked to the conflict in West Asia. The committee, chaired by Sunil Tatkare, has scheduled a briefing for 15 May 2026 at which officials from the Ministry of Petroleum and Natural Gas, oil marketing companies and oil public sector undertakings (PSUs) will be asked to present data. Representatives from the Ministry of Chemicals and Fertilizers, Department of Fertilizers, will also be invited to brief the panel on production of crude oil, petrol, diesel and natural gas. Deliberations will include safety and security in the transportation of petroleum products and the adequacy of strategic reserves. India imports nearly 88 per cent of its crude oil requirements and relies on the Strait of Hormuz, which accounts for around 40 per cent of crude imports, 50 per cent of liquefied natural gas (LNG) imports and nearly 90 per cent of liquefied petroleum gas (LPG) imports. The committee will examine how reduced vessel movements through the chokepoint have affected supply chains. India depends on imports for around 60 per cent of its LPG requirement, and nearly 90 per cent of those imports pass through the Strait of Hormuz, placing roughly 55 per cent of domestic LPG consumption volumes at risk during the disruption. LPG imports reportedly halved during March and April 2026 owing to supply constraints, while domestic refineries increased production by nearly 40 per cent and met around 55 per cent of demand compared with nearly 40 per cent earlier. The panel will assess options for closing remaining supply gaps and for supporting distribution and retail networks. The issue of strategic petroleum reserves is expected to be discussed as the government currently maintains a combined reserve cover of nearly 50 days of crude and refined products. The committee will evaluate whether existing stocks are sufficient to manage prolonged supply interruptions and consider recommendations to enhance preparedness. A detailed briefing from officials and entities is expected to inform any follow-up oversight.

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