New Delhi [India], March 11 : India's crude supply remains secure through diversified procurement amid the West Asia crisis that has affected global energy routes, Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, said on Wednesday.
"India's crude supply remains secure. Our daily consumption is about 55 lakh barrels. Through diversified procurement, the volumes we have secured today exceed what would normally have arrived through the Strait of Hormuz during this period," Sujata Sharma said at a joint press briefing.
Amid LPG supplies to India impacted by tensions in West Asia, Sharma said the government has absorbed a significant part of the cost increase to the increase to protect the consumers.
"Currently, LPG is being directed to the domestic sector. For non-domestic LPG, priority is being given to essential sectors such as hospitals and educational institutions. The committee is consulting with state authorities and industry bodies to finalise the plan to ensure that available LPG is distributed fairly and transparently," she said addressing an Inter-Ministerial press briefing.
Sharma said two LNG cargos are on their way to India.
"Our gas companies have procured LNG cargos from new sources. Two LNG cargos are on their way to India," she said.
Speaking about crude supplies, she said India imports crude from about 40 countries.
She added that domestic refineries are currently operating at full capacity, and in some cases even above capacity, to ensure a steady supply of petroleum products across the country.
The government has also decided to prioritise gas supplies for key sectors such as tea production, gas grid operations and allied activities, as well as fertiliser manufacturing, which are critical for both agriculture and industrial activity.
Sharma noted that the country imports around 60 per cent of its LPG requirements, and about 90 per cent of these imports pass through the Strait of Hormuz.
To strengthen domestic availability, the government has directed refining and petrochemical units to optimise LPG production. As a result, domestic LPG production has increased by about 25 per cent, she said.
The additional production is being directed primarily towards household consumers to ensure uninterrupted cooking gas availability, Sharma said.
For commercial LPG consumption, the government has identified priority sectors including educational institutions and hospitals to ensure essential services remain unaffected.
Sharma urged people not to rush book LPG cylinders. "As a temporary demand management measure, the minimum gap between LPG bookings has been increased from 21 days to 25 days," she said.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor