Union Petroleum Minister Hardeep Singh Puri said in the Lok Sabha that “India’s crude supply situation is secure,” adding that the country now sources crude from 40 countries compared with 27 in 2007.
Puri said Indian refineries are operating at high utilisation levels, while non-Hormuz crude sourcing now accounts for 70 per cent of imports. He added that natural gas supply is being managed through sector prioritisation and LPG production has increased by 28 per cent in the last five days.
Puri said India is securing cargoes from the US, Norway, Canada, Algeria and Russia. He noted that the LPG panic is driven by consumer anxiety, not a supply shortage and alternate fuel options are being activated to ease LPG pressure.
He further stated that commercial LPG supply is being regulated to prevent diversion, while the hospitality sector is not being targeted by the commercial LPG regulation.
