India is currently in a stable position regarding its crude oil, LPG, and LNG reserves. The country has enough crude oil stock for 25 days, including what’s in transit. Major oil companies—like Indian Oil, Bharat Petroleum, and Hindustan Petroleum—are well-supplied and continue to receive energy imports from multiple routes.
To boost its reserves further, the government has instructed these companies not to export petroleum products. This strategy helps ensure supply levels remain high.
In recent years, India has also enhanced its energy security by diversifying its oil imports to include countries beyond the Gulf region. A senior official mentioned that a significant amount of oil no longer passes through the Strait of Hormuz, which adds a layer of security to their supplies.
India has considerable storage capacity: Pudur can hold 2.25 million metric tonnes (MMT) of oil, Visakhapatnam can store 1.33 MMT, and Mangaluru has a capacity of 1.5 MMT. Additionally, a new strategic reserve is being constructed at Chandikhol, located along the coast. These reserves are crucial during emergencies or when global oil prices spike.
Speaking of prices, the global oil benchmark Brent recently surpassed $80 a barrel, marking a roughly 10% increase since the onset of tensions related to Iran. This rise impacts India significantly, leading to a higher import bill and increasing inflation, which can slow down economic growth.
India relies heavily on imports for its crude oil needs, sourcing over 85% of its requirements. About half of this comes from Middle Eastern countries, primarily via the Strait of Hormuz. The ongoing instability in that region can disrupt supplies.
In the financial year ending March 31, 2025, India spent $137 billion on crude oil imports. From April 2025 to January 2026, the country has already spent over $100 billion on 206.3 million tonnes of crude oil. Such expenditures not only strain resources but also have lasting implications for the economy.
To add context, analysts suggest that oil prices could remain volatile due to geopolitical tensions and fluctuating demand as the global economy continues to recover from recent downturns. This volatility can lead to more measures from the Indian government aimed at stabilizing the market.
For more information about oil imports and energy strategies, you can check out [the Ministry of Petroleum and Natural Gas](https://www.petroleum.nic.in). This will provide a clearer picture of how India is navigating its energy landscape.
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US Israel strike on Iran, Price Surge, Crude Oil, LPG, Oil Reserves, Iran Attack, central Government, Strait of Hormuz, Iran News, Middle East News, National News, The Assam Tribune
