The Crossbill News Desk
As the conflict in West Asia continues to disrupt global energy markets and push fuel prices upward, the Union government on Monday (May 26) informed a parliamentary standing committee that India currently has crude oil reserves sufficient for the next 78 days.
The assurance came during discussions on the wider impact of the regional crisis on India’s economy, trade and energy security.
The Parliamentary Standing Committee on Transport, Tourism and Culture met on Monday to review the implications of the ongoing situation.
According to sources cited by Press Trust of India, officials told the panel that the government had taken measures to prevent shortages of essential fuel supplies across the country.
The report said that opposition members raised “long queues” and “rationing” of petrol and diesel at petrol pumps in some parts of the country and also sought to know the measures being taken by the government.
Senior officials from key ministries – including External Affairs, Petroleum & Natural Gas, Finance, Commerce, Fertilisers, and Ports, Shipping & Waterways – participated in the discussions with the committee.
Shipping ministry officials said that of the 37 Indian ships, 13 are still stuck in the Strait of Hormuz. Officials from the fertiliser ministry have said there is no shortage of fertilisers in the country.
Following the meeting, Sanjay Kumar Jha, who heads the committee, said that the meeting focused on the implications of the crisis on India’s maritime trade, energy security, shipping infrastructure, and the safety of Indian seafarers, highlighting the need for coordinated preparedness amid disruptions in critical global trade corridors.
Prior to the meeting, Jha has said that the problems facing the country are not “created by India.”
“It’s a global problem, not a problem created by India. It’s a concern for the entire world, and that’s why this meeting is called,” he said.
After the meeting, he said that officials are addressing the concerns arising out of the closure of the Strait of Hormuz.
“While the conflict is taking place elsewhere, we are confronting a completely new set of problems. Regarding all the initiatives undertaken by the government, specifically, representatives from the Ministry of Shipping visited today to address issues concerning seafarers from the Strait of Hormuz, and all relevant facts were presented,” he said.
“Officials from other ministries, such as Petroleum and Fertilisers, were also present to discuss the implications for the upcoming sowing season…Since it is currently unclear how long this situation will persist, the focus is on how to formulate effective long-term planning…I believe the government is doing a very commendable job,” Jha added.
The discussions reflected growing concern over the impact of disruptions in the Strait of Hormuz on India’s fuel imports, shipping movement and agricultural supply chains, even as the government maintained that adequate preparations were in place to manage the evolving crisis.
The assurance came during discussions on the wider impact of the regional crisis on India’s economy, trade and energy security.
The Parliamentary Standing Committee on Transport, Tourism and Culture met on Monday to review the implications of the ongoing situation.
According to sources cited by Press Trust of India, officials told the panel that the government had taken measures to prevent shortages of essential fuel supplies across the country.
The report said that opposition members raised “long queues” and “rationing” of petrol and diesel at petrol pumps in some parts of the country and also sought to know the measures being taken by the government.
Senior officials from key ministries – including External Affairs, Petroleum & Natural Gas, Finance, Commerce, Fertilisers, and Ports, Shipping & Waterways – participated in the discussions with the committee.
Shipping ministry officials said that of the 37 Indian ships, 13 are still stuck in the Strait of Hormuz. Officials from the fertiliser ministry have said there is no shortage of fertilisers in the country.
Following the meeting, Sanjay Kumar Jha, who heads the committee, said that the meeting focused on the implications of the crisis on India’s maritime trade, energy security, shipping infrastructure, and the safety of Indian seafarers, highlighting the need for coordinated preparedness amid disruptions in critical global trade corridors.
Prior to the meeting, Jha has said that the problems facing the country are not “created by India.”
“It’s a global problem, not a problem created by India. It’s a concern for the entire world, and that’s why this meeting is called,” he said.
After the meeting, he said that officials are addressing the concerns arising out of the closure of the Strait of Hormuz.
“While the conflict is taking place elsewhere, we are confronting a completely new set of problems. Regarding all the initiatives undertaken by the government, specifically, representatives from the Ministry of Shipping visited today to address issues concerning seafarers from the Strait of Hormuz, and all relevant facts were presented,” he said.
“Officials from other ministries, such as Petroleum and Fertilisers, were also present to discuss the implications for the upcoming sowing season…Since it is currently unclear how long this situation will persist, the focus is on how to formulate effective long-term planning…I believe the government is doing a very commendable job,” Jha added.
The discussions reflected growing concern over the impact of disruptions in the Strait of Hormuz on India’s fuel imports, shipping movement and agricultural supply chains, even as the government maintained that adequate preparations were in place to manage the evolving crisis.
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