Hyderabad, March 3 Union Coal and Mines Minister G Kishan Reddy said on Tuesday that citizens do not need to worry about the availability of petroleum products in the country due to the ongoing armed conflict in West Asia.
In a statement here, he said that the country is prepared to face the circumstances arising out of the crisis.
India is the fourth largest refiner and fifth largest exporter of petroleum products globally. Although the country is the third largest importer of petroleum products, it does not face any immediate trouble, he said, referring to the US-Israel attack on Iran and its retaliation targeting some West Asian countries.
Adequate crude oil stocks and petroleum products such as petrol, diesel, and ATF (Aviation Turbine Fuel) are available in the country, he said.
Observing that the government led by Prime Minister Narendra Modi has been giving importance to fuel security since it assumed office, he said that the government has made a special focus on increasing strategic petroleum reserves (Mangaluru, Padur, and Visakhapatnam) as well as domestic fuel production and ethanol blending.
Because of this, the government has made available petroleum products to the people of the country for the past several years, and has also taken steps to ensure that prices do not rise due to the international situation, he said.
Previously, oil was imported from Gulf countries. But, the Centre is focused on buying oil from multiple countries "strategically", he said.
The country's oil companies are importing oil products through different routes instead of the Strait of Hormuz (now closed by Iran), Reddy said.
Therefore, Indians need not worry about the situation in West Asia, as adequate stocks are available according to the country's requirements, he said.
There are no problems in importing as per the country's needs. "There is no question of petrol scarcity arising in the country due to the steps taken by the Narendra Modi government," he said.
The Centre has set up a multi-ministerial team, comprising the Ministry of External Affairs, Shipping, Petroleum, the Central Board of Direct Taxes (CBDT), and the Department of Financial Services, to monitor the country's exports and imports in view of the latest situation, he said.
Additionally, the Petroleum Ministry is supervising the supply of petroleum products and the stocks by setting up a 24x7 control room, he added.
Reddy asserted that the Modi government would not compromise on safeguarding the interests of consumers, adding that the Centre is alert to take appropriate steps by continuously monitoring the situation.
In a statement here, he said that the country is prepared to face the circumstances arising out of the crisis.
India is the fourth largest refiner and fifth largest exporter of petroleum products globally. Although the country is the third largest importer of petroleum products, it does not face any immediate trouble, he said, referring to the US-Israel attack on Iran and its retaliation targeting some West Asian countries.
Adequate crude oil stocks and petroleum products such as petrol, diesel, and ATF (Aviation Turbine Fuel) are available in the country, he said.
Observing that the government led by Prime Minister Narendra Modi has been giving importance to fuel security since it assumed office, he said that the government has made a special focus on increasing strategic petroleum reserves (Mangaluru, Padur, and Visakhapatnam) as well as domestic fuel production and ethanol blending.
Because of this, the government has made available petroleum products to the people of the country for the past several years, and has also taken steps to ensure that prices do not rise due to the international situation, he said.
Previously, oil was imported from Gulf countries. But, the Centre is focused on buying oil from multiple countries "strategically", he said.
The country's oil companies are importing oil products through different routes instead of the Strait of Hormuz (now closed by Iran), Reddy said.
Therefore, Indians need not worry about the situation in West Asia, as adequate stocks are available according to the country's requirements, he said.
There are no problems in importing as per the country's needs. "There is no question of petrol scarcity arising in the country due to the steps taken by the Narendra Modi government," he said.
The Centre has set up a multi-ministerial team, comprising the Ministry of External Affairs, Shipping, Petroleum, the Central Board of Direct Taxes (CBDT), and the Department of Financial Services, to monitor the country's exports and imports in view of the latest situation, he said.
Additionally, the Petroleum Ministry is supervising the supply of petroleum products and the stocks by setting up a 24x7 control room, he added.
Reddy asserted that the Modi government would not compromise on safeguarding the interests of consumers, adding that the Centre is alert to take appropriate steps by continuously monitoring the situation.