New Delhi, Mar 26 : India has about 60 days of oil stock cover and has arranged one full month of LPG supply, the government said on Thursday, adding that there is no shortage of petrol, diesel, or LPG, calling reports of shortages as a “deliberate misinformation campaign” aimed at triggering panic buying.
Amid reports of panic buying and long queues at petrol pumps and LPG distributors, the Ministry of Petroleum and Natural Gas, for the first time since the war in West Asia broke out, released stock details of crude oil, fuels and LPG as it rushed to calm nerves.
Parallely, state-owned oil marketing companies also said there is no shortage of petrol, diesel or liquefied petroleum gas (LPG) and supplies remain stable.
In a statement, the ministry said all petrol pumps across the country are adequately stocked and operating normally, with no rationing of petrol or diesel.
With some petrol pumps, especially in smaller towns, finding difficulty in lifting fuel after oil companies put them on cash-and-carry, the ministry said steps have been taken to increase credit to petrol pumps to over three days from earlier allowed one day in order to ensure that there is no shortage of petrol and diesel at any pump due to working capital issues of pump owners.
“There is no shortage of petrol, diesel, or LPG anywhere in the country,” it said, emphasising that the country’s petroleum and LPG supply situation is “fully secure and under control.”
Stating that all retail fuel outlets have enough supplies, the ministry called upon citizens not to be “misled by a deliberately mischievous, coordinated campaign of misinformation that is being carried out to spread unjustified panic.”
While the Iran war has disrupted the supply of half of the crude oil (raw material used to make fuels like petrol and diesel), the country has secured enough crude supplies from elsewhere for the next 60 days. Also, fuel tanks are at optimum levels and can help cover two months of requirements.
On LPG, whose supply has been scarce because of the shutting down of Strait of Hormuz – the conduit which shipped a bulk of Indian supplies, the ministry said 800,000 tonnes of LPG cargoes have been secured and one full month of supply is firmly arranged.
Separately, Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) put out posts to say their petrol pumps were operating normally and there was no shortage of any fuels.
India, the world’s fourth-largest refiner and fifth-largest exporter of petroleum products, has structurally assured domestic fuel availability and continues to supply refined fuels to over 150 countries, the ministry statement said.
“Every Indian refinery (which turns crude oil into fuels like petrol and diesel) is running at over 100 per cent utilisation,” it said. “Crude oil supplies for the next 60 days have already been tied up by Indian oil companies. There is no supply gap..
India, it said, has 74 days of total crude oil and fuel stocking capacity.
“Actual stock cover is around 60 days right now (including crude stocks, products stocks and the dedicated strategic storage in caverns) even as we are on the 27th day of the Middle East crisis.”
“Nearly two months of steady supply is available for every Indian citizen regardless of what happens globally.”
With the next two months of crude procurement already secured, India is completely secure for the next many months and the quantity in strategic cavern storage becomes secondary in such a supply situation, it said.
No fuel shortage, supplies across J&K: CM
‘It’s regrettable when Govt speaks, no one listens, everyone believes in rumours’
Jammu Tawi, Mar 26: Assuring residents that there is no shortage of fuel or essential supplies in Jammu and Kashmir Chief Minister Omar Abdullah on Thursday urged the public to remain calm.
Talking to reporters here CM Omar said, “People should not get influenced by social media rumours that have triggered unnecessary panic and long queues at petrol pumps. Diesel, petrol and LPG cylinders are readily available and the administration is closely monitoring supplies to ensure uninterrupted access for all.”
“It is regrettable that when the government speaks, no one listens, but everyone believes the rumours,” he added.
“In a review meeting held recently, it was confirmed that there is currently no shortage of anything, be it diesel, petrol, or LPG cylinders. The situation has remained stable over the last 2–4 days and there has been no directive anywhere to reduce usage,” he said.
The Chief Minister also warned that continued panic buying could create avoidable problems. “I appeal to all those lining up outside petrol pumps based on social media rumours: please don’t do that. Otherwise, I will be forced to shut down the petrol pumps for a few days until these rumours stop,” he said.
CM Omar stressed the government’s proactive measures to ensure uninterrupted supply of essential commodities. “Tomorrow, the Prime Minister has scheduled an online meeting, in which I will also participate. We will review the situation in Iran and surrounding areas and the government will outline steps to secure essential supplies in case the conflict continues,” he said.
Assuring the public, he said, “For now, I want to make it very clear that there is no shortage of oil anywhere in the country and people should not fear any disruption in essential commodities. Our supplies are stable and the government is monitoring the situation closely.”
While commenting on Pakistan’s potential role in mediating the ongoing US-Israel–Iran conflict, he said, “If Pakistan plays a role in ending the war, why should anyone object? If they have good relations with both Israel and Iran, and if the US Vice President is willing to talk to them, and if this war can be stopped through their mediation, then I don’t think anyone should object,” he said.
