As tensions in the Middle East enter their second week, concerns are growing over whether India’s energy supplies are sufficient. According to a recent government report, the country has more than 250 million barrels of crude oil and petroleum products in reserves, enough to meet demand for about two months. The combined reserves, estimated at about 4,000 crore litres, provide coverage for seven to eight weeks across the country’s energy supply chain.The reserves are spread across several storage points, including underground strategic caves located in Mangalore, Padur and Visakhapatnam. The extra quantity is stored in above-ground storage tanks, pipelines and offshore vessels as part of a wider distribution network, the report quoting ANI said. It also rejected claims that the country has only 25 days of reserves, saying that extensive supply chain reserves significantly increase the country’s buffer.
It also highlighted a sea change in the way crude oil is imported, with purchases now diversified across 40 countries compared to 27 a decade ago, describing the strategy as “based in the national interest”.Although the Strait of Hormuz remains one of the world’s most important oil transit routes, the report said about 40% of India’s crude oil imports pass through this narrow waterway. Most, about 60%, reaches India through other routes, with supplies coming from Russia, West Africa, the US and Central Asia.
“Gone are the days when India’s energy security rose and fell with the conditions of a single maritime chokepoint,” the document said, adding that any disruption in one corridor would lead to a “managed sourcing adjustment, not a supply emergency”.Russia remains India’s largest crude oil supplier until February 2026. Despite geopolitical pressure in recent years, India has maintained purchases in compliance with G7 price ceiling rules, the report said.“India has never been dependent on any country’s permission to buy Russian oil. India is importing Russian oil even in February 2026 and Russia is still India’s largest crude oil supplier,” the document said.It also noted the recent 30-day waiver from the US Treasury to allow continued purchases of Russian oil, saying the move “removes friction that was never in anyone’s interest to maintain” and acknowledged India’s contribution to stabilizing global energy markets.On the domestic front, India’s ethanol blending program has also reduced dependence on crude oil imports. The 20% blending initiative now replaces approximately 44 million barrels of crude oil each year.Meanwhile, the country’s refining capacity has increased to 258 million metric tons per year, with domestic consumption levels estimated between 210 and 230 million metric tons per year.This capacity enabled Indian refiners to supply fuel to Europe when sanctions on Russian crude created a shortage in that market, the report said. It added that “Indian refiners are not dependent on a fixed slate from a fixed origin,” highlighting the region’s flexibility in sourcing crude.Cited data from the Petroleum Planning and Analysis Cell shows that retail fuel prices in the country have remained largely stable over the past four years. Petrol prices in Delhi declined by 0.67% between February 2022 and February 2026. Over the same period, prices in Pakistan increased by 55% and in Germany by 22%.To maintain stable prices, public sector oil companies endured significant financial losses. The report said that these companies suffered a loss of Rs 24,500 crore on petrol and diesel and about Rs 40,000 crore on LPG.It concludes that decisions in the sector are evaluated based on “affordability, availability and sustainability”, while also noting that no fuel pump outlet has gone dry in the country in the last twelve years.