Business News | Hardeep Puri to Apprise Parliament About India's Energy Supply Situation Later Today
Get latest articles and stories on Business at LatestLY. Petroleum and Natural Gas Minister Hardeep Puri will give a statement in Lok Sabha on the overall energy position of India amid West Asia conflict that has invariably affected shipping lines.
New Delhi [India], March 12 (ANI): Petroleum and Natural Gas Minister Hardeep Puri will give a statement in Lok Sabha on the overall energy position of India amid the West Asia conflict that has invariably affected shipping lines.
Leader of the Opposition Lok Sabha Rahul Gandhi will be in the House, and is likely to intervene during the discussion on the subject, sources said.
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India's crude supply remains secure through diversified procurement amid the West Asia crisis that has affected global energy routes, Sujata Sharma, Joint Secretary, Ministry of Petroleum and Natural Gas, said on Wednesday at an inter-ministerial press briefing.
"India's crude supply remains secure. Our daily consumption is about 55 lakh barrels. Through diversified procurement, the volumes we have secured today exceed what would normally have arrived through the Strait of Hormuz during this period," Sujata Sharma said at the joint press briefing.
Amid LPG supplies to India impacted by tensions in West Asia, Sharma said the government has absorbed a significant part of the cost increase to the increase to protect the consumers.
"Currently, LPG is being directed to the domestic sector. For non-domestic LPG, priority is being given to essential sectors such as hospitals and educational institutions. The committee is consulting with state authorities and industry bodies to finalise the plan to ensure that available LPG is distributed fairly and transparently," she said, addressing the press briefing.
Sharma said two LNG cargos are on their way to India.
Speaking about crude supplies, she said India imports crude from about 40 countries. She added that domestic refineries are currently operating at full capacity, and in some cases even above capacity, to ensure a steady supply of petroleum products across the country.
The government has also decided to prioritise gas supplies for key sectors such as tea production, gas grid operations and allied activities, as well as fertiliser manufacturing, which are critical for both agriculture and industrial activity.
Sharma noted that the country imports around 60 per cent of its LPG requirements, and about 90 per cent of these imports pass through the Strait of Hormuz. To strengthen domestic availability, the government has directed refining and petrochemical units to optimise LPG production. As a result, domestic LPG production has increased by about 25 per cent, she said.
The additional production is being directed primarily towards household consumers to ensure uninterrupted cooking gas availability, Sharma said. For commercial LPG consumption, the government has identified priority sectors including educational institutions and hospitals to ensure essential services remain unaffected.
Sharma urged people not to rush book LPG cylinders. "As a temporary demand management measure, the minimum gap between LPG bookings has been increased from 21 days to 25 days," she said. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)