India has reserve of crude and product stocks for 74 days
NATIONAL: Government of India Thursday confirmed that the country's total reserve capacity spans 74 days with actual stock cover—comprising crude and product stocks alongside strategic storage—currently at about 60 days. The Ministry of Petroleum and Natural Gas has asserted that the supply of petroleum and LPG remains secure and reliable, stating that all retail fuel outlets are adequately stocked and there are no shortages of petrol, diesel or LPG nationwide.
Officials said India is reportedly receiving increased crude oil from more than 41 international suppliers, while domestic refineries are operating at over 100% utilization. The production of LPG has surged by 40%, with daily output reaching 50,000 Metric Tonnes, fulfilling more than 60% of national demand.
A full month's supply has been arranged, with ongoing procurement efforts. Oil companies are delivering upwards of 50 lakh LPG cylinders daily, though demand had peaked at 89 lakh cylinders due to panic buying, before stabilizing back to 50 lakh. To mitigate hoarding and black marketing, commercial cylinder allocations have been increased to 50% in collaboration with state governments.
A part from domestic output, 800 Thousand Metric Tonnes of LPG cargoes have been secured from suppliers, including the United States, Russia, and Australia, and are on their way to India's 22 LPG import terminals. The Ministry has urged citizens to disregard a misleading campaign aimed at creating unwarranted panic over LPG availability.