Focus on energy stockpile as OMCs eye new sources

PSU refiners have 25 days worth of oil stocks, and another 25 days of fuel stocks

- Rituraj Baruah

New Delhi is keeping a close eye on its fuel and oil stocks, as disruption in the Strait of Hormuz throws global oil supply chains into disarray.

According to two top officials aware of the matter, state-run refiners have crude oil stocks which will last around 25 days, plus petrol and diesel for another 25 days. India also has around 25 days of cooking gas stock, and liquified natural gas stock of up to 21 days, the people said, even as state-run refiners scout the world for new gas contracts.

All this is in addition to the country’s strategic petroleum reserves (SPR). India’s existing SPR capacity stands at 5.3 million tonnes, enough to meet just 9.5 days of its crude oil needs. As of October 2024, the latest date for which data is available, about 3.6 million tonnes were stored in SPR’s underground caverns.

With these stocks, the country is comfortably positioned at the moment, and new sources for energy products from other geographies are being explored, the people said on the condition of anonymity.