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Officials said country’s fuel reserves remain comfortable despite energy market volatility triggered by the escalating conflict in West Asia
Crude Oil & LPG Reserves
The Indian government does not plan to ration petrol or diesel as current stock levels are sufficient to meet domestic demand, according to a report by ANI citing people familiar with the matter.
Officials said the country’s fuel reserves remain comfortable despite energy market volatility triggered by the escalating conflict in West Asia.
GAIL may invoke force majeure
GAIL (India) Limited is expected to declare force majeure to ensure gas supplies for priority sectors as India navigates potential energy disruptions linked to the regional conflict.
The development comes after QatarEnergy declared force majeure on Wednesday. The clause allows a company to temporarily suspend contractual obligations due to unforeseen circumstances without facing penalties or breach-of-contract claims.
Qatar is a crucial energy supplier for India, providing around 60 million metric standard cubic metres per day (mmscmd) of gas out of India’s total 195 mmscmd LNG imports, and accounts for roughly 20% of global LNG supply.
India exploring alternative gas suppliers
Amid rising geopolitical uncertainty, countries such as Australia and Canada have reportedly offered to supply gas to India.
The government is exploring additional sources to diversify imports as it currently brings in about 195 mmscmd of gas daily, with Qatar supplying nearly 60 mmscmd.
Talks with global oil producers
India is also in discussions with major oil producers and traders to secure supplies of crude oil and LPG. Officials are engaging with global energy bodies including the International Energy Agency and the Organization of the Petroleum Exporting Countries.
The government is also negotiating with the United States to arrange insurance cover for ships transporting crude.
In addition, India recently signed agreements with the United Arab Emirates and the United States to further diversify its energy sourcing.
India reviewing energy situation daily
Officials said the government is reviewing the energy situation twice a day and believes the country remains in a secure position. Current stock levels are considered adequate, with inventories being replenished regularly.
Sources also indicated that there is no global shortage of LPG, LNG or crude oil, and India remains in contact with multiple suppliers.
Strong inventory buffer
Government sources earlier told ANI that India holds about eight weeks of crude oil and petroleum product inventories, including strategic reserves.
Additionally, only around 40% of India’s crude imports pass through the Strait of Hormuz, which reduces the risk of supply disruptions from regional tensions.
Separately, India maintains around 25 days of crude oil stocks and about 25 days of petrol and diesel reserves. The country also continues to import crude from Russia under existing contracts.
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March 06, 2026, 07:49 IST
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