Ships transiting Hormuz at tricklish rate, but India's fuel supply is adequate: Indian Oil Chairman
&imwidth=600&imheight=450&format=webp&quality=medium "Ships transiting Hormuz at tricklish rate, but India's fuel supply is adequate: Indian Oil Chairman")
A S Sahney, Chairman, Indian Oil Corporation Photograph: (WION)
As far as crude oil is concerned, India's situation is absolutely comfortable; our refining capacity is holding us good. There is no trouble about liquid fuels such as petrol, diesel, said A S Sahney, Chairman, Indian Oil Corporation, while admitting "certain constraints" with LPG.
Amid the fragile ceasefire in war-torn West Asia, ships are only transiting the Strait of Hormuz at a "tricklish rate", but India has an adequate supply of petrol, diesel, aviation fuel, LPG, said A S Sahney, Chairman, Indian Oil Corporation(IOC). The Government-run IOC is India's largest integrated and diversified energy company, under the ownership of the Ministry of Petroleum and Natural Gas. Following a review meeting in Chennai, Sahney assured adequate availability of fuels and advised the public against hoarding or malpractices owing to panic.
Highlighting India's actions to ensure energy security during the ongoing 40-day global conflict, Sahney noted that the country has diversified its crude oil procurement by sourcing it from 41 geographies, as opposed to the earlier 25. On LPG, he said that India was procuring it only from one source earlier, which has also been diversified now. However, he did not offer specific details on the nations supplying to India or on the status of shipments from Russia.
As far as crude oil is concerned, India's situation is absolutely comfortable; our refining capacity is holding us good. There is no trouble about liquid fuels such as petrol, diesel, aviation fuel, he said, while admitting "certain constraints" with LPG. Domestic LPG cylinder supply, there is no trouble whatsoever, we are supplying 100percent of what is required. All three Government-run Oil Marketing firms(Indian Oil, Bharat Petroleum, Hindustan Petroleum)are delivering all the bookings within a period of 6-8 days, he said, adding that efforts are underway to shorten the delivery time.
Also read | 'Cancerous' Israel: Pakistan defence minister deletes anti-Israel post ahead of Islamabad peace talks
"Five lakh cylinders is the daily demand in Tamil Nadu, and we are supplying that," he said.
To curb hoarding and malpractices, the state government has conducted over 10,000 sudden inspections, while the Government-run Oil Marketing firms have also executed more than 1,500 unannounced raids across Tamil Nadu, leading to strict actions against defaulting distributors, Sahney added.
Trending Stories
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
&im=FitAndFill=(700,400))
)
&im=FitAndFill=(700,400))
)
)
)
&im=FitAndFill=(700,400))
)
)
)
)
&im=FitAndFill=(700,400))
)
&im=FitAndFill=(700,400))
)
)
&im=FitAndFill=(700,400))
)
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
&im=FitAndFill=(700,400))
)
Further, he announced the increase of the commercial LPG quota for Tamil Nadu to 70% of the original levels, effective immediately. On supply to hospitals, messes, and educational institutions, he said that 100percent supply is being provided, while industries are being given 70percent.
Queried about the possibility of a fuel rate hike, he said: Our priority is to meet national energy requirements. The Government is focused on ensuring availability, distribution, and affordability.
Disclaimer: WION takes utmost care to accurately and responsibly report ongoing conflicts in West Asia involving Israel, Iran, the US, Gulf nations and non-state actors like Hezbollah, Hamas, Houthis, Islamic State, and others. Claims and counterclaims, disinformation and misinformation are being made online and offline. Given this context, WION cannot independently verify the authenticity of all statements, social media posts, photos and videos.
