NEW DELHI — Various central ministries held a high-level joint press conference on Thursday to address the growing concerns over the oil and gas crisis triggered by escalating tensions in West Asia. Aseem Mahajan, Joint Secretary (Gulf) in the Ministry of External Affairs, characterized the current situation as a significant testing time for both India and the global community. Amidst reports of a potential energy shortage due to the conflict involving the US, Israel, and Iran, the government aimed to provide a transparent update on the country’s energy security and the strategic measures being taken to mitigate the impact of regional instability.
Sujata Sharma, Joint Secretary in the Ministry of Petroleum, provided detailed insights into the domestic LPG situation, noting that while the ongoing war remains a concern, there is currently no shortage of cylinders at the distributor level. Data from the ministry indicates that domestic supply remains stable, with online bookings reaching 94 percent and approximately 83 percent of refill deliveries being verified through a “Delivery Authentication Code” (DAC). On March 18 alone, approximately 57,000 refill bookings were processed. The government observed that panic booking is beginning to subside and urged commercial LPG consumers to transition to CNG, highlighting that several companies have already announced incentives to facilitate this shift.
Regarding crude oil, the Petroleum Ministry revealed a significant strategic shift in India’s procurement strategy, stating that nearly 70 percent of the nation’s crude oil is now being sourced from regions outside the volatile Strait of Hormuz. While international circumstances have undoubtedly exerted pressure on the global supply chain, the government confirmed that there has been no increase in domestic fuel prices thus far. To ensure a steady flow of energy, India is actively exploring alternative supply sources beyond the Middle East to further reduce its dependency on conflict-prone zones and safeguard national interests against sudden supply disruptions.
The press conference also addressed widespread rumors regarding e-KYC requirements and potential gas connection disconnections that had caused panic at gas agencies. The ministry clarified that the e-KYC process is not a new regulation but a routine verification intended to prevent fraud and identify ghost customers within the system. Officials emphasized that no connections would be cut off for failing to complete the biometric verification immediately, aiming to quell the rush and discourage black marketing or hoarding. The government remains vigilant in its monitoring of the distribution system to ensure that the transition through this energy crisis remains orderly and transparent for all citizens.
