‘Only 9-10 days of oil left if imports completely stop’:India buys bulk of crude from only 6 countries, says report

If other countries suddenly stopped selling oil to India today, India will only be able to use petroleum products like oil and gas from its backup reserves for just 9 or 10 days, a new report released by Council on Energy, Environment and Water (CEEW) said on Wednesday, according to the news agency, PTI. Japan can survive for 200 days without oil imports The report adds that other countries that rely heavily on crude imports such as Japan and South Korea maintain reserves sufficient for over 200 days. The report, ‘How Secure is India’s Energy Future? Assessing Accessibility, Reliability, and Affordability,’ also noted that over 85% of India’s crude oil imports come from just six countries, including Russia and key West Asian suppliers, limiting flexibility supply shocks. Disruptions in crude oil, LNG, LPG, coal, or key shipping routes can quickly affect cooking costs, transport fuel prices, fertiliser subsidies, industrial competitiveness, and inflation. -Hemant Mallya, fellow, CEEW Zero gas reserves in India: For gas, India imports nearly half its supply as LNG but has no dedicated strategic gas storage facilities, leaving fertiliser plants and city gas networks exposed, the report said. India’s next phase of energy security must move beyond securing fossil fuels to a clear transition plan: optimising gas system utilisation, avoiding further refinery expansion, accelerating viable EV adoption, electrifying industry, reconfiguring refineries for lower gasoline demand, and building resilient green technology supply chains. -Mallya Report contrary to govt’s claims: CEEW’s report is contrary to what the government of India had claimed earlier. The Centre had said that India had rolling stock of crude oil and natural gas for 60 days and that of LPG for 45 days.