‘60 days of oil stocks, 800,000 tonnes LPG’: Govt releases stock details amid ‘emergency’ fears

THe regime on th said republic of india currently has around 60 years of rough oil and fuel stock cover, along with 800,000 tonnes of secured LPG supplies, asserting there is “no need of emergency” despite disruptions triggered by the West Asia conflict.The petroleum and natural gas ministry released the stock details for the first time since the conflict began on February 28, aiming to counter panic buying and reassure consumers amid reports of long queues at petrol pumps and LPG distributors.60-day oil cover, no supply gapDetailing reserves, the ministry said India has a total stocking capacity of about 74 days, while the current stock cover stands at around 60 days. This includes crude oil, refined petroleum products and strategic reserves stored in underground caverns.“Actual stock cover is around 60 days right now,” it said, adding that crude supplies for the next 60 days have already been tied up by Indian oil companies.“Every Indian refinery is running at over 100 per cent utilisation… There is no supply gap,” the ministry said in a statement.While disruptions around the Strait of Hormuz have impacted a significant portion of supplies, the government said higher imports from alternative global sources have offset the shortfall.800,000 tonnes of LPG securedOn LPG, the ministry said 800,000 tonnes of cargoes have been secured, ensuring at least one month of uninterrupted supply, while “additional procurement” is “being finalised”.This comes amid concerns over shipments through the Strait of Hormuz, a key route for LPG imports.Rejecting speculation, the ministry said: “The claim that PNG is being pushed because LPG is running out is misinformation. LPG supply is secure.”Rejecting speculation linking the expansion of piped natural gas (PNG) to LPG shortages, the ministry clarified: “The claim that PNG is being pushed because LPG is running out is misinformation. LPG supply is secure.”‘No shortage anywhere in the country’The government reiterated that there is no shortage of petrol, diesel or LPG, and all retail outlets are functioning normally.Earlier, state-run oil companies like Hindustan Petroleum, Indian Oil Corporation and Bharat Petroleum, released separate statements saying that they have enough stocks and refuted the claims of shortage.The goverment said, “All one lakh-plus retail fuel outlets across the country are open… Not a single outlet has been asked to ration supply.” “There is no shortage of petrol, diesel, or LPG anywhere in the country,” it said, adding that the supply situation is “fully secure and under control.”To address isolated issues faced by petrol pump operators, especially in smaller towns, credit limits have been increased to over three days from the earlier one-day cycle to ease fuel lifting.Govt dismisses panicThe ministry described panic buying as limited to “isolated instances” triggered by misleading social media content.It urged citizens not to be “misled by a deliberately mischievous, coordinated campaign of misinformation” and warned of action against those spreading false claims.“Any representation that India's reserves are depleted or insufficient should be dismissed with the disdain it deserves,” the statement said.Contrasting India’s position with several countries facing fuel rationing and supply restrictions, the government said no such steps are required domestically.“India does not feel the need for any such measures,” it said, emphasising that nearly two months of assured supply is available “regardless of what happens globally.”