No Shortage, India's Energy Supply Secure For "Many Months": Centre

The Centre has said India's energy supply is secure for "many months" and urged people not to resort to panic buying of fuel and LPG based on social media rumours.  

In a statement on Thursday, as the US and Israel's war on Iran raged on, the Ministry of Petroleum and Natural Gas said, "All retail fuel outlets have enough supplies. There is no shortage of petrol, diesel, or LPG anywhere in the country. The ministry calls upon citizens not to be misled by a deliberately mischievous, coordinated campaign of misinformation that is being carried out to spread unjustified panic."

Emphasising that India is the world's fourth-largest refiner and fifth-largest exporter of petroleum products, supplying refined fuel to over 150 countries, the ministry insisted there is no shortage of stocks in the country. 

"Where isolated instances of panic buying occurred at select pumps, they were driven by deliberate misinformation spread by certain videos on social media. Despite the surge in demand at such pumps, fuel was dispensed to all the consumers and oil company depots have been operational through the night to ramp up supplies," it stated. 

The government also said that despite supply lines through the situation at the Strait of Hormuz being affected, India is "receiving more crude oil from its 41-plus suppliers across the world than what was previously arriving through the Strait". 

India, the ministry stressed, has 74 days of total reserve capacity and around 60 days of actual stock cover (including crude stocks, product stocks and the dedicated strategic storage in caverns). 

"Nearly two months of steady supply is available for every Indian citizen, regardless of what happens globally. The next two months of crude procurement have also been secured. India is completely secure for the next many months and the quantity in strategic cavern storage becomes secondary in such a supply situation. Therefore, any representation that India's reserves are depleted or insufficient should be dismissed with the disdain it deserves," it said. 

LPG Situation

On LPG, the government said there is no shortage and domestic refinery production has been ramped up by 40%, taking daily LPG output to 50 TMT (Thousand Metric Tonnes) against a total daily requirement of around 80 TMT. 

"Approximately one full month of supply is firmly arranged, with additional procurement being finalised continuously. Oil companies are successfully delivering over 50 lakh cylinders every day. Cylinder demand had gone up to 89 lakh cylinders due to panic ordering by consumers and has now come down to 50 lakh cylinders again," the ministry pointed out. 
Piped Natural Gas, it said, was being promoted because of its benefits. 

"This transition was well underway before the current situation arose and reflects India's long-term energy strategy. The claim that PNG is being pushed because LPG is running out is misinformation. LPG supply is secure. PNG is simply a better, more affordable and highly convenient fuel for India's households," it asserted.