New Delhi: India has sufficient crude oil stocks to meet at least 10\u201315 days of requirements and an additional 7\u201310 days of fuel supplies, officials said, indicating there is no immediate risk to energy security despite tensions around the Strait of Hormuz.<\/p>\n
The clarification comes amid escalating conflict in West Asia following US-Israel military strikes on Iran and the reported death of Iran\u2019s Supreme Leader. Iran has announced the closure of the Strait of Hormuz, a key global energy corridor through which nearly 20% of the world\u2019s oil and gas supplies transit.<\/p>\n
India\u2019s exposure to Hormuz<\/p>\n
India imports nearly 50% of its crude oil \u2014 primarily from Iraq, Saudi Arabia and the UAE \u2014 via the Strait of Hormuz. Almost all of its LPG (cooking gas) imports also pass through the same route.<\/p>\n
A senior official said Indian refineries currently have 10\u201315 days of crude stock, including supplies in transit. Fuel storage tanks across the country are also adequately filled to meet 7\u201310 days of consumption.<\/p>\n
Contingency plans in place<\/p>\n
Officials and analysts expect the conflict may not be prolonged, but contingency plans are ready if tensions escalate further. If the Strait remains closed for an extended period, India could increase crude purchases from Russia.<\/p>\n
However, shipments from the Middle East typically reach India within five days, whereas Russian supplies can take nearly a month to arrive.<\/p>\n
Price pressures loom<\/p>\n
Brent crude prices have already climbed to around $73 per barrel and could rise to $80 in the coming week if tensions persist.<\/p>\n
While immediate supply disruptions appear unlikely, officials acknowledged that the bigger challenge for India may be rising global oil prices and inflationary pressures rather than physical shortages.<\/p>\n
On the natural gas front, concerns remain. Unlike crude oil, most LNG supplies are tied to long-term contracts, making alternative sourcing more complex if shipping routes remain disrupted for a prolonged period.<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi: India has sufficient crude oil stocks to meet at least 10\u201315 days of requirements and an additional 7\u201310 days of fuel supplies, officials said, indicating there is no immediate risk to energy security despite tensions around the Strait of Hormuz. The clarification comes amid escalating conflict in West Asia following US-Israel military strikes […]<\/p>\n","protected":false},"author":1,"featured_media":61129,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,37,21],"tags":[13444,13445],"class_list":["post-61128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-national","category-political-news","tag-india-has-10-15-days-of-crude-reserves","tag-officials-say-no-immediate-oil-crisis-despite-strait-of-hormuz-tensions"],"yoast_head":"\n