New Delhi: Amid rising tensions between Israel and Iran, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, assured that India has adequate supplies of petrol and diesel.
The Union Minister emphasised that there is no reason for concern at this point. Addressing fears of supply disruption due to the Middle East conflict, he said: "I want to make it absolutely clear that there is no shortage of petrol and diesel in the country. People do not need to worry."
The minister further noted that there is no global shortage of crude oil at the moment. He added that India has significantly diversified its sources of crude oil, increasing the number of suppliers from 27 to 40.
"In addition to importing crude, we are also ramping up our own domestic production. Our output is growing, and we have sufficient stock," Puri was quoted as saying in a media report.
According to a report by MK Global, Iran produces about 3.3 million barrels per day (mbpd) of crude oil and exports around 1.5 mbpd.
The country also lies along the northern edge of the Strait of Hormuz, a strategic waterway through which more than 20 mbpd of global oil trade passes. This has led to concerns that escalating tensions in the region could disrupt crude imports to India.
