India has 60 days of stock of crude oil, supply fully secured: Government

Amid reports of LPG shortage and long queues at some petrol pumps, the Ministry of Petroleum and Natural Gas categorically said that India has 74 days of total reserve capacity, and actual stock cover is around 60 days right now. According to the government, India is completely secure for the next few months, even as we are on the 27th day of the Middle East crisis. "Nearly two months of steady supply is available for every Indian citizen, regardless of what happens globally. The next 2 months of crude procurement have also been secured," the ministry said.

According to the



ministry, the domestic refinery production has been ramped up by 40 per cent, bringing daily LPG output to 50 TMT against a total daily requirement of around 80 TMT. 

The net daily import requirement has consequently come down to only 30 TMT - meaning India is now producing much more than it needs to import. Over and above domestic production, 800 TMT of assured inbound LPG cargoes are already secured and en route from the United States, Russia, Australia, and other countries, arriving across India's 22 LPG import terminals - double the 11 terminals that existed in 2014.