PM Modi Chairs Crisis Meet on Oil Security Amid Middle East Conflict

The meeting, which will be attended by senior ministers, will focus on ensuring uninterrupted supply, stable logistics and efficient distribution of petroleum products across the country.

The government is taking proactive steps to safeguard energy security and maintain adequate availability. It is continuously monitoring global developments to protect consumer and industry interests, a senior official said.

Prime Minister Narendra Modi spoke with Iran's President Masoud Pezeshkian on Saturday to discuss regional developments and strengthen bilateral cooperation. Both leaders expressed their shared hope that this festive season would usher in a period of peace, stability, and prosperity for the West Asian region.

PM Modi condemned the recent attacks on critical infrastructure in the region, noting that such actions threaten regional stability and disrupt vital global supply chains. The Prime Minister reiterated the critical importance of safeguarding the freedom of navigation and ensuring that international shipping lanes remain open and secure. Furthermore, he expressed his sincere appreciation for Iran's continued support in ensuring the safety and security of Indian nationals residing in the country.

Amid concerns over LPG shortage, the government has diversified LPG imports and is buying liquefied petroleum gas from the US as well to plug the supply chain disruptions caused by the Middle East conflict.

India has diversified its oil and gas imports from sources other than the Middle East following the blocking of the Strait of Hormuz through which 20 per cent of the world's oil and gas exports transit. As much as 70 per cent of the country's oil imports are now coming from countries outside the Gulf. These include the US, Russia, and African countries such as Nigeria.

Due to the ongoing war, the LPG situation remains a matter of concern. However, there is no dry-out reported at any LPG distributorship. Online bookings have further increased to 94 per cent, according to senior officials.

The crude oil situation and refinery operations remain normal in the country.

Domestic PNG and CNG are being supplied 100 per cent, and consumers have been requested to shift from LPG to PNG.

The Centre has also asked all states to take necessary steps to prevent black marketing and hoarding, and raids are being carried out against black marketers.

- IANS