Media: India's total oil reserves can meet 78 days of demand
According to data submitted by India's Ministry of Petroleum and Natural Gas to the national parliament, as reported by The Times of India, India possesses total oil reserves sufficient for 78 days of demand, with ample liquefied natural gas (LNG) stocks.
The newspaper reported: "Oil reserves can cover 78 days of demand, and there is no shortage of liquefied natural gas."
The report confirmed that currently, 37 Indian-flagged vessels and approximately 11,000 Indian crew members are stranded in the Persian Gulf due to the closure of the Strait of Hormuz. Once shipping resumes normal operations, these vessels could depart within 5 to 6 days. The Indian government has increased insurance coverage for container-carrying ships by 100 times.
At the end of March, Prime Minister Narendra Modi stated that India’s strategic petroleum reserves stood at 5.3 million tons. Meanwhile, Suresh Gopi, Minister of State for Petroleum and Natural Gas, pointed out that these reserves are currently filled to about two-thirds of their total capacity.
The official also emphasized that to reduce dependence on any single region of the world, India has diversified its crude oil procurement sources, establishing import channels with 41 countries, including the United States, Nigeria, Angola, Canada, Brazil, and Mexico.
Escalating tensions around Iran have effectively led to the closure of the Strait of Hormuz, a critical passage for Persian Gulf nations to export oil and liquefied natural gas to global markets.
Source: sputniknews
Original: toutiao.com/article/1866268454953988/
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