Oil Minister Suresh Gopi Confirms Strategic Reserves at Two-Thirds Capacity
State Petroleum and Natural Gas minister Suresh Gopi confirmed on March 23 that India's strategic oil reserves stand at two-thirds of their total capacity, a level sufficient to cover approximately nine-and-a-half days of national demand.
Key Points
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1India's strategic oil reserves cover approximately 9.5 days of domestic demand according to a government reply in Parliament.
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2Current crude stock levels stand at two-thirds capacity within total storage limits, leaving room for additional accumulation if needed.
Developments
Perspectives
India has a strategic oil reserve buffer that can sustain about 9 days of crude supply in case of disruptions or price shocks.
— [Mar 24, 10:58] How Long Can India's Oil Reserves Last Amid Middle East Crisis? Centre Says Stocks Two-Thirds Full (Timesnownews)The current stockpiles are only two-thirds full and do not cover more than a week of demand.
— [Mar 23, 10:58] How Long Can India's Oil Reserves Last Amid Middle East Crisis? Centre Says Stocks Two-Thirds Full (Timesnownews)India is the world's third-largest energy consumer and relies heavily on imports for its crude oil needs.
— [Mar 23, 10:45] India's strategic oil reserves at two-thirds capacity (Thehindubusinessline)An RTI response reveals that India's strategic petroleum reserves cover only about nine days of domestic demand despite a total storage capacity nearly twice as large. This limited buffer is particularly concerning given the country imports over 85% of its crude oil and faces rising global supply risks due to conflicts in West Asia, which have already caused price volatility through chokepoints like the Strait of Hormuz.
India's strategic oil reserves are currently at only two-thirds capacity, holding approximately 3.372 million tonnes or roughly 64% of its total storage capability due to ongoing disruptions in the Middle East and Strait of Hormuz supply routes. The Indian Strategic Petroleum Reserve Ltd (ISPRL) manages these facilities across three locations with a combined design capacity of 5.33 million tonnes, intended as an emergency buffer for India's heavy reliance on imported crude oil.