India Ensures Energy Supply Stability Amid Global Crises, Says Minister Puri
India has 60 days of crude, LNG, 45 days of LPG, no problem on supply: Puri
Business Standard
Image: Business Standard
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced that India has sufficient energy reserves, including 60 days of crude oil, 60 days of LNG, and 45 days of LPG. Despite significant daily losses of ₹1,000 crore, the government has managed to maintain supply stability amid rising global prices and geopolitical tensions.
- 01India has 60 days of crude oil, 60 days of LNG, and 45 days of LPG in reserve.
- 02Oil companies are incurring daily losses of ₹1,000 crore, totaling an expected ₹1,98,000 crore in under-recovery.
- 03Domestic LPG production increased from 36,000 to 54,000 metric tons per day during the crisis.
- 04Puri emphasized that India has not raised fuel prices in over four years, despite rising global oil prices.
- 05The government aims to reduce import costs by encouraging lifestyle changes among citizens.
Advertisement
In-Article Ad
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri reassured the public about India's energy supply stability during the CII Annual Summit. He stated that the country has 60 days of crude oil, 60 days of liquefied natural gas (LNG), and 45 days of liquefied petroleum gas (LPG) in reserve, indicating no immediate supply issues. Despite facing daily losses of ₹1,000 crore due to rising global oil prices, which have surged from around $64 to $115, the government has managed to maintain stable prices for over four years. Puri highlighted that domestic LPG production increased significantly from 36,000 to 54,000 metric tons per day, ensuring that there were no shortages at petrol stations across the country. He urged citizens to follow Prime Minister Narendra Modi's suggestions to reduce import costs and emphasized that lifestyle changes are essential in the current global context. Puri's remarks come amid concerns over energy supply disruptions due to geopolitical tensions in West Asia.
Advertisement
In-Article Ad
The stability in energy supply and maintained fuel prices could prevent potential increases in transportation and household energy costs for consumers.
Advertisement
In-Article Ad
Reader Poll
Do you believe the government should raise fuel prices to cover losses?
Connecting to poll...
Read the original article
Visit the source for the complete story.