Advertisement

India's oil buffer intact, says Puri—Supply map gets daily 'war-room' scrutiny

Updated: June 16, 2025 12:49

Image Source: News Arena

India's energy war-room is on high alert but the cupboards are not empty. Petroleum Minister Hardeep Singh Puri informed the media after a review meeting with PSU chiefs that the nation has "sufficient energy supplies for the next few months," even as Brent crude continues to whipsaw on West Asia tensions. Officials are now analyzing global cargo patterns and price curves every 24 hours, poised to re-route buys if chokepoints like the Strait of Hormuz erupt, Puri said. India imports over 85 % of its crude and half of its gas; diversified imports from Russia, the US and Latin America are serving as a cushion, he added.
 
Key Highlights
  • Strategic stockpile: India's refinery stocks + India's strategic reserves give ≈74 days of cover, over twice the IEA's 90-day benchmark after taking domestic production into account.
  • Daily dashboard: Ministry of petroleum now maintains a live dashboard monitoring tanker positions, futures spreads and insurance premiums to pre-empt supply shocks.
  • Price effect: Even while Brent spiked intraday to $75/bbl, Puri sees "manageable" pump prices because of the hedging by state-owned OMC.
  • Supply hedge: Russia remains the dominant supplier; Middle-East share dropped below 40 %, decreasing regional risk.
  • Future actions: Governments in coordination with G20 partners for simultaneous SPR releases in case of continued escalation.
Sources: Economic Times, Times of India, Moneycontrol

Stay Ahead – Explore Now! Paisabazaar Crosses Borders: PB Fintech Launches Middle East Arm in Dubai

Advertisement

STORIES YOU MAY LIKE

Image Source: Linkedin
Healing Gets a Tech Twist: AyurAI Blends Ancient Wisdom with Artificial Intelligence for Personalized Wellness
Image Source: Pragmatic Coders
Mind Over Metro: Gen Z Fuels 40% Boom in Mental Health App Use Across Tier-2 India
Image Source: Hindustan Times
Protein Power Play: Samantha Ruth Prabhu’s 100g-a-Day Diet Fuels Fitness Frenzy
Advertisement
Image Source: Mint
From Pitch to Politics: Azharuddin Sworn into Telangana Cabinet Ahead of Crucial Bypolls
Image Source: India Today
Fielding Queen: Jemimah Rodrigues Shines Bright with Best Fielder Medal in India’s Semifinal Triumph
Image Source: Facebook
Snooze Smarter: Why Deep Sleep, Not Just Duration, Is the Real MVP for Heart & Brain Health
Image Source: X
Fit for the Nation: Mumbai’s Wellness Conclave Unites Icons from Sports to Cinema
Advertisement
Live Blogs
SBI Tags RCom Loan as Fraud, Puts Anil Ambani in RBI Crosshairs
Thrill-Seekers Assemble: APTDC Flooded with 130 Adventure Tourism Applications
Level Unlocked: Good Game Becomes World’s First As-Live Global Gaming Reality Show
From Devotion to Dynamite: Ganesh’s Mighty Avatar Steals the Show in Yours Sincerely, Raam
Top Stories
Image Source: News18
Unity in Diversity Day: Karnataka, Kerala, MP & Haryana Celebrate Their Roots with Pride
Image Source: India TV News
Shaadi Season Unlocked: November & December 2025 Bring a Flurry of Auspicious Wedding Dates
Image Source: Shaadidukaan
Wake Up & Wed: Dev Uthani Ekadashi Rings in India’s Grand Wedding Season
Image Source: News18
Fit Is the New Lit: Mandaviya Rallies Youth at Wellness Conclave to Power Up India’s Fitness Future
Advertisement
Advertisement

Follow WOWNEWS 24x7 on:

Copyright 2024 WOWNEWS 24x7. All rights reserved. The WOWNEWS 24x7 is not responsible for the content of external sites. Read about our approach to external linking.

Powered By Just Imagine