Fuel crisis looming? PM Modi chairs meet on oil and gas amid West Asia tensions
New Delhi: Prime Minister Narendra Modi on Sunday chaired a high-level review meeting on oil and gas supply, petroleum products, power and fertiliser sectors, amid rising geopolitical tensions in West Asia.
The meeting focused on ensuring uninterrupted fuel supply, stable logistics and efficient distribution systems across India to prevent disruption to essential services. Senior officials briefed the Prime Minister on fuel availability, crude oil reserves and supply chain preparedness.
India steps up energy security measures
Officials said the government is closely monitoring global developments and has taken proactive steps to safeguard India’s energy security, ensuring that consumers and industries are insulated from volatility in international oil and gas markets.
Efforts are underway to maintain adequate fuel reserves, strengthen supply chains and stabilise petroleum distribution networks amid ongoing uncertainty.
Strait of Hormuz concerns, global oil market impact
The review comes as global energy markets remain under pressure due to the West Asia conflict, raising concerns over disruptions to key shipping routes such as the Strait of Hormuz, which handles a significant share of global oil and gas trade.
Any disruption in this strategic corridor could impact global crude oil supply, fuel prices and shipping logistics, officials noted.
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Diplomatic outreach and supply diversification
A day earlier, Modi held talks with Masoud Pezeshkian, emphasising the need for regional peace, stability and secure maritime trade routes. He also highlighted the importance of keeping international shipping lanes open to protect global supply chains.
India has accelerated efforts to diversify oil and gas imports, reducing reliance on the Gulf region. Officials said nearly 70 per cent of crude oil imports now come from alternative sources, including the United States, Russia and African countries such as Nigeria.
LPG supply stable despite global disruptions
The government has also stepped up measures to manage LPG supply in India, including increased imports of liquefied petroleum gas from the United States. While concerns over LPG availability persist, officials confirmed that consumer-level supply remains stable, with online bookings witnessing a rise.
IANS