India Assures Adequate Oil and Gas Supplies Amid West Asia Tensions and Diversifies Sources

Amid escalating tensions in West Asia and concerns over the Strait of Hormuz, the Indian government has assured sufficient crude oil, petrol, diesel, LPG, and natural gas stocks to meet domestic demand without rationing. India imports about 195 million metric standard cubic metres per day of gas, with Qatar supplying 60 million mmscmd. The government is actively diversifying energy sources, engaging with countries like Australia, Canada, the US, and UAE, and increasing LPG production. Strategic reserves and alternative supply routes further bolster energy security, while refiners continue normal operations, including MRPL. India has also increased imports of Russian crude since 2022, enhancing supply diversification amid ongoing monitoring of the situation.