India has adequate fuel supply amid Israel-Iran conflict, says Hardeep Puri
Amid rising tensions between Israel and Iran, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Wednesday, assured that India has adequate supplies of petrol and diesel.
Speaking to IANS, the Union Minister emphasised that there is no reason for concern at this point.
Addressing fears of supply disruption due to the Middle East conflict, he said: "I want to make it absolutely clear that there is no shortage of petrol and diesel in the country. People do not need to worry."
The minister further noted that there is no global shortage of crude oil at the moment.
He added that India has significantly diversified its sources of crude oil, increasing the number of suppliers from 27 to 40.
"In addition to importing crude, we are also ramping up our own domestic production. Our output is growing, and we have sufficient stock," Puri told IANS.
According to a report by MK Global, Iran produces about 3.3 million barrels per day (mbpd) of crude oil and exports around 1.5 mbpd.
The country also lies along the northern edge of the Strait of Hormuz, a strategic waterway through which more than 20 mbpd of global oil trade passes.
This has led to concerns that escalating tensions in the region could disrupt crude imports to India.
Puri also spoke about the broader impact of the PM Narendra Modi government's welfare schemes. Highlighting the success of the Pradhan Mantri Ujjwala Yojana, he said: "Launched in 2016 by Prime Minister Narendra Modi, the scheme has now benefitted over 10.33 crore poor households."
He added that access to LPG cylinders, once largely limited to urban areas, has now been extended to rural regions across the country.
"The Modi government has ensured that LPG cylinders are easily available in remote villages too," he said.
The minister also pointed to India's growing progress in alternative fuels. "In 2014, our biofuel blending rate was just 1.4 per cent. Today, it has reached 20 per cent," he noted, underlining the government’s push towards cleaner energy solutions.
