&imwidth=800&imheight=600&format=webp&quality=medium "Narendra Modi says India has enough crude oil reserves- How much oil does India have?")
Prime Minister Narendra Modi, at the budget session of the Parliament, addressing the escalating conflict in West Asia, assured that India has adequate crude oil supply and storage arrangements. The war in West Asia has reached its fourth week, creating a major disruption in the global energy market. India, which is dependent on the Middle East for roughly 40 per cent of the country’s oil imports and 60 per cent of its gas are also gradually facing the squeeze.
“West Asian war has impacted us all. I want to express the government's stance on this war in front of the House and the people of India. This war has been going on for over 3 weeks. It has created a serious fuel issue in the world. The situation in India is worrying too. This has impacted our ways of business,” said Prime Minister Narendra Modi.
How much oil does India have?
Prime Minister Narendra Modi asserted that there is no energy security crisis in India. He said that the supply of petrol and diesel remains smooth across the country. He suggested that India has more than 5.3 million metric tonnes of strategic petroleum reserves, and is also working on arranging an additional 6.5 million metric tonnes of storage.
"Along with that, India's refining capacity has also been increased in the past 10 years. I want to assure the country that India has enough crude oil storage and non-stop supply arrangements,” said Modi. He also claimed that the Union Government is constantly in contact with suppliers from different countries, and the effort is to ensure that oil and gas supplies continue from the sources wherever possible.
Trending Stories
&im=FitAndFill=(700,400))
How fast can the Sukhoi Su-30 fighter jet really fly?
)
Did China ask its people 'not to respond to aliens'? Origin of bizarre claim on social media
)
MS Dhoni-CSK Fallout? Report claims failed stake sale talks triggered rift
)
Scientists reveal the SAFEST COUNTRY when catastrophe strikes the planet
)
Serial killer on the loose in South Korea's Jeju Island? Fourth body found in three days as more than a dozen people go missing
)
2/3rd of glacier detached, collapsed: ISRO satellite images reveal what triggered Nepal floods
)
Trump once again claims without him there would be ‘no Israel right now’
)
Foreign espionage attacks against German companies surge to 37%, Bitkom report reveals
)
Blake Lively wins partial legal fee from Justin Baldoni after $8M request
)
Why is Pakistan deploying Turkish Bayraktar TB2 drones near India border?
)
'OH MY GOD! We've found other agents!': Investigators discover not one or two, almost 700 OpenAI AI agents went rogue, hacked Hugging Face
)
Lunar eclipse 2026: India timings, places to see and more. August Blood moon factsheet
)
RSS chief Mohan Bhagwat on global outreach tour
)
Both pilots killed as training aircraft crashes in Lucknow – What we know
)
16-year-old charged with preparing terror attack on kindergarten in Norway
&im=FitAndFill=(700,400))
How the S-400 protects itself from enemy attacks
)
Nepal floods: Over 165 dead, 400 missing; US, India, China, World Bank mobilise aid
)
India's multi-layered watch: The new surveillance war
)
5 doomsday planes spotted in US skies hours after CIA director's secret trip to Russia
)
9/11 mastermind Khalid Sheikh Mohammed to finally face trial in 2028, nearly 27 years after horrific attacks
)
Islamabad hospital fire: What we know about one of the biggest facility that housed Imran Khan
)
Workers run for life while filming Nepal flash flood: Scary new visuals emerge from Rasuwa
)
Russian military planes enter South Korean air defence zone amid rising tensions with North Korea: What's happening
)
Ron Weasley Is Back! Rupert Grint set to return to Harry Potter universe on Broadway
)
400-year-old 'vampire' grave in Poland reveals non-existent genetic lineage
)
Dolly Parton, global icon and queen of country music, dies at 80
)
Nepal flash floods: Kailash Mansarovar yatra affected, close to 400 pilgrims out of contact
)
'If he is dead, they're putting on a pretty good show': Trump casts fresh doubt over Mojtaba Khamenei's fate
)
Man arrested near US Capitol with guillotine in pickup truck: What happened?
&im=FitAndFill=(700,400))
Why the Su-30MKI cockpit is painted bright turquoise green
Junior Petroleum Minister Suresh Gopi told Parliament on Monday, citing data released by the Indian Strategic Petroleum Reserve Ltd, India has 3.372 million tons of Strategic Petroleum Reserve (SPR), which is two-thirds of its maximum capacity. These number is excluding the total refined petroleum products like petrol and diesel. According to various estimates, India needs 5.5 million barrels of crude oil daily. According to Gopi, the SPR can last for 74 days. Further, India holds 4.98 billion barrels of proven oil reserves, 0.28 per cent of global oil reserves and an Indian production capacity that meets only 15-18 per cent of total Indian demand.
"Govt has constituted 7 empowered groups to evolve strategies on fuel, supply chains, fertilisers, among others," said PM Modi. He further assured that, irrespective of the crisis, maintaining growth is their responsibility.
