Amid escalating tensions in West Asia, prompting oil and gas supply disruptions and raising concerns about elevated prices, the Indian government on Friday said that there is no shortage of oil in the country and that Domestic LPG production has been increased by 30 pc vis-a-vis March 5, ensuring uninterrupted supply to households.
Addressing heightened concerns over reports of LPG shortage in the country, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, on Friday said that petrol and diesel are available in adequate quantity at all petrol pumps, and despite the unfavourable situations, none of the 2500 LPG distributors has reported ‘dry day’. However, she further raised an alarm over the availability of LPG, as she added, “Regarding LPG, I would like to state that this remains a matter of concern for us.”
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Sharma said that India possesses s a refining capacity of 258 million metric tons, making it self-sufficient in the production of petrol and diesel, and there is no need to import these oils in India. “All our refineries are currently operating at 100% capacity or higher. The refineries hold adequate inventories of crude oil, and furthermore, supplies are being consistently maintained,” Sharma said.
Further assuring fellow citizens of the supply of PNG (Piped Natural Gas) and CNG (Compressed Natural Gas) to domestic consumers, she said that supply is being ensured without any interruption or cuts, and there is no need to panic.
"Furthermore, regarding commercial consumers in our major urban cities and centres, many of whom are currently facing difficulties due to their reliance on LPG supplies, the Government of India is making every effort to address their concerns. We appeal to all such commercial consumers to contact their local CGD (City Gas Distribution) network provider or their designated dealer to obtain a PNG connection," she added.
LPG bookings have surged to 75.7 lakh against an average of 55.7 lakh in the pre-war period, "showing panic booking", she said.
Following the closure of the Strait of Hormuz, a narrow waterway which holds nearly 15 per cent of oil and 30 per cent of LNG globally, the supply disruption raised shortage and price surge concerns among Indian citizens, prompting hoarding and panic buying. India
India imports roughly 88 per cent of its crude oil, 50 per cent of its LNG needs and 60 per cent of its LPG requirement, most of which transits through the strait. The widening instability in the region has stopped the energy flow from the strait.