Amidst the increasing tension between America and Iran, the Indian government has said that at present there is no crisis regarding the supply of petroleum and natural gas in the country. According to government sources, India has about 50 days’ stock of oil and gas, so common people will not have to face any kind of problem. According to sources, the Petroleum Ministry is in constant touch with many big crude oil supplying companies of the world including Russia. The supply may have reduced slightly from some places, but the supply will not be completely disrupted.
Limited dependence on the Strait of Hormuz
Government sources say that only about 40 percent of India’s total crude oil supply comes through the Strait of Hormuz. The remaining 60 percent supply comes from other countries and routes. In such a situation, even if there is any problem in this area, India will not face any major problem. However, due to problems in the Hormuz route, there may be a shortage of about 60 MMSCM of LNG. In such a situation, the government can reallocate gas to industrial consumers as per the need.
daily review
In view of the US-Iran tension, the government is reviewing the situation of petroleum and natural gas twice a day. In these meetings, officials of all petroleum PSU companies participate along with the Petroleum Minister. According to sources, Prime Minister Narendra Modi is also in touch with the top leadership of Qatar and Oman. Apart from this, India is also in constant talks with the International Energy Agency (IEA) and American officials.
There is no impact on prices and supply of fertilizers
Government sources say that despite the increase in crude oil prices in the international market, there will be no immediate impact on the prices of petrol and diesel in India. There has been no increase in the prices of petrol and diesel in the country for the last four years. The government estimates that during the current conflict, crude oil prices may remain around $84-85 per barrel. After the tension ends, prices may again come down to $74 per barrel or below. Apart from this, the government has also made it clear that despite the US-Iran tension, the supply of fertilizer in the country will not be affected and farmers will not face any kind of problem.