India’s crude oil supply remains secure even as regional tensions threaten Gulf shipping lanes, with about 70% of imports coming through alternative routes and two cargoes en route to strengthen the situation, govt officials said on Wednesday.
“On crude supply, India’s crude supply remains secure. Daily consumption is at 55 lakh barrels. We have secured more than what would normally have arrived through the Strait of Hormuz during this period,” said Sujata Sharma, Joint Secretary (Marketing & Oil Refining) in the Ministry of Petroleum & Natural Gas.
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To mitigate any disruption, the government is procuring crude and LNG via alternate routes. “Procurement through alternate routes and supplies is underway to offset disruption. Gas companies have procured LNG cargoes from alternate routes,” Sharma added. A Natural Gas Control Order has also been issued to manage supplies efficiently.
Shel noted that refineries are operating at full capacity, adding that “refineries and petrochemical units will take a 35% reduction so that higher priority sectors can be protected.”
On LPG, India imports roughly 60% of its requirement, with 90% coming through the Strait of Hormuz. To ensure uninterrupted domestic supply, the government issued an order on March 8 directing companies to boost production.
These measures aim to safeguard critical sectors and domestic consumers against potential supply shocks from the Gulf.
