2 months ago
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The Ministry of Petroleum and Natural Gas has ordered lipid and state companies to stock details on exports, imports and inventories with a authorities agency, arsenic India seeks to shield consumers from shortages amid rising planetary prices triggered by the U.S.-Israeli warfare connected Iran. India has designated the Petroleum Planning and Analysis Cell (PPAC) to cod and analyse the information, according to a authorities bid issued precocious connected Wednesday (March 18, 2026).
The companies indispensable stock accusation careless of immoderate “contract, agreement, commercialized statement oregon confidentiality obligation,” the bid said, adding no entity tin garbage to stock details by claiming it is “commercially delicate oregon proprietary”.
India has been deed hard by the leap successful crude prices and disruption successful lipid and state supplies, but dissimilar China it has not moved to prohibition exports of refined fuel.
Any determination to curtail substance exports by India volition deed Reliance Industries, the relation of the world’s biggest refining complex, arsenic different refiners person mostly stopped exporting fuels.
All companies progressive successful the lipid and state proviso concatenation including oil producers, importers, refiners, substance and state retailers, liquefied natural state importers, pipeline operators, and petrochemical plants were ordered to supply PPAC with data.
India, the world’s fourth-largest refiner and third-biggest lipid importer and consumer, meets implicit 90% of its lipid needs done purchases from overseas.
So acold Centre has maintained that the state has capable crude supplies and refined substance stocks to conscionable section substance demand.
However, the world’s second-largest LPG importer is facing its worst cooking state situation successful decades with shipments from the Strait of Hormuz astir halted owed to the war.
India was sourcing much than 40% of its crude imports and 90% of its liquefied petroleum state imports from West Asia
Indian refiners person bought millions of barrels of Russian lipid floating connected the precocious seas after Washington granted a sanctions waiver.
India has invoked exigency powers ordering refiners to maximise accumulation of LPG and chopped income to manufacture to debar a shortage for its 333 cardinal homes with LPG connections.
India past week asked consumers to debar panic buying of LPG cylinders and displacement to piped natural state wherever possible.
