Parliamentary Panel To Review Domestic Petroleum Production

11 May 2026 CW Team

The session will examine production of crude oil, petrol, diesel and natural gas and will also cover safety and security in the transportation of petroleum products. India imports nearly 88 per cent of its crude oil requirements and relies heavily on the Strait of Hormuz, which accounts for around 40 per cent of crude imports, 50 per cent of LNG imports and nearly 90 per cent of LPG imports. Vessel movement through the strategic chokepoint has reduced significantly because of the ongoing war.

India depends on imports to meet around 60 per cent of its LPG requirement and nearly 90 per cent of those imports pass through the Strait, leaving roughly 55 per cent of LPG consumption volumes exposed to disruption. LPG imports halved during March and April 2026 amid supply interruptions linked to the conflict, prompting domestic refineries to raise production by nearly 40 per cent. That increase has helped meet around 55 per cent of domestic demand compared with around 40 per cent earlier, but a notable supply gap remains.

The committee is expected to consider the adequacy of strategic petroleum reserves, with the government currently maintaining a combined reserve cover of nearly 50 days of crude and refined petroleum products. Members will assess whether existing stocks and contingency arrangements are sufficient to withstand prolonged disruptions and will review coordination between ministries, commercial distributors and refining units. The briefing should inform policy options to mitigate risk and strengthen supply chain resilience without prescribing specific measures.

The Parliamentary Standing Committee on Petroleum and Natural Gas will review domestic production and energy security preparedness amid an oil supply crisis linked to the conflict in West Asia. The committee, chaired by Sunil Tatkare, has scheduled a briefing for 15 May 2026 that will include officials from the Ministry of Petroleum and Natural Gas, oil marketing companies and oil public sector undertakings, together with representatives from the Department of Fertilisers. The session will examine production of crude oil, petrol, diesel and natural gas and will also cover safety and security in the transportation of petroleum products. India imports nearly 88 per cent of its crude oil requirements and relies heavily on the Strait of Hormuz, which accounts for around 40 per cent of crude imports, 50 per cent of LNG imports and nearly 90 per cent of LPG imports. Vessel movement through the strategic chokepoint has reduced significantly because of the ongoing war. India depends on imports to meet around 60 per cent of its LPG requirement and nearly 90 per cent of those imports pass through the Strait, leaving roughly 55 per cent of LPG consumption volumes exposed to disruption. LPG imports halved during March and April 2026 amid supply interruptions linked to the conflict, prompting domestic refineries to raise production by nearly 40 per cent. That increase has helped meet around 55 per cent of domestic demand compared with around 40 per cent earlier, but a notable supply gap remains. The committee is expected to consider the adequacy of strategic petroleum reserves, with the government currently maintaining a combined reserve cover of nearly 50 days of crude and refined petroleum products. Members will assess whether existing stocks and contingency arrangements are sufficient to withstand prolonged disruptions and will review coordination between ministries, commercial distributors and refining units. The briefing should inform policy options to mitigate risk and strengthen supply chain resilience without prescribing specific measures.

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