Our Bureau
New Delhi
Union Petroleum Minister Hardeep Singh Puri gave strong words of comfort to worried Indians on Thursday. He said the country’s crude oil supplies are fully secure, even as fights between Iran, Israel, and the US block the key Strait of Hormuz sea route.
The Strait of Hormuz, a narrow water path near Iran, carries about 20 percent of world oil. Before the crisis, around 45 percent of India’s oil passed through it. Now, ships cannot go there due to attacks, sparking fears of fuel shortages and price jumps. But Puri told Parliament that India has smartly changed its plans. “We now get 70 percent of our oil from other routes and 40 countries,” he said. This beats what the Strait could supply before.
Puri praised Prime Minister’s talks with world leaders for helping secure extra oil volumes. He hit out at opposition for spreading rumours. “No time for panic or false talk. Petrol, diesel, and LPG stocks are full at shops. Supply lines work fine,” he added. Domestic firms like IOCL and BPCL boosted local LPG output by 25 percent to help.
India buys 85 percent of its oil from abroad, making it the third biggest importer after US and China. The government watches 28 Indian ships in the Gulf closely for safety.
