India has maintained nearly 60 days of crude oil and petroleum product stocks along with over one-and-a-half months of LPG reserves amid prolonged disruptions caused by the West Asia conflict, while simultaneously fast-tracking the ambitious “Samudra Manthan” deep-sea exploration programme to strengthen long-term energy security.

“We have maintained almost 60 days of stock for crude, for products, and a month and a half of LPG. Over the last 67 days, we have kept this stock forward, which means we have procured from other sources,” Petroleum Secretary Neeraj Mittal said during CII’s Annual Business Summit 2026.

“We have procured from other countries. We have increased procurement from existing countries. And that is what kept us going in terms of the supply function in the short term,” he said.

India, which imports nearly 88% of its crude oil requirement, has been among the countries most exposed to disruptions around the Strait of Hormuz, through which nearly one-fifth of global oil and gas trade flows.

Mittal said India had managed to secure the highest number of energy ships out of the Strait of Hormuz over the last 67 days while also ramping up domestic LPG production to 50,000 metric tonnes from 30,000 tonnes earlier.

The government is now preparing to further expand reserve capacities for crude oil, natural gas and LPG.

What did BBCL Chairman say?

“We are looking to expand our reserve capacity for crude oil, natural gas, and LPG. We can expect something in the next 3-6 months,” Bharat Petroleum Corporation Ltd. (BPCL) Chairman and Managing Director Sanjay Khanna said.

At the same time, India is in the final stages of rolling out the “Samudra Manthan” programme aimed at exploring deep-sea oil, gas and mineral reserves to reduce import dependence and strengthen domestic energy production.

“There will be no shortage of investment. The government needs to step in for high-risk activities in the exploration. We are almost at the final stage of the Samudra Manthan programme,” Mittal said.

The programme, announced by Prime Minister Narendra Modi, aims to intensify offshore exploration and unlock untapped reserves of crude oil, natural gas and critical minerals.

Mittal said India was also accelerating wider domestic exploration programmes under OALP as part of its medium- and long-term energy security strategy.

“A lot of efforts are on for wider and bigger exploration,” he said.

The petroleum secretary also sought to allay concerns over fuel shortages and rationing.

“We have sufficient stocks. There is no need to panic,” Mittal said, adding that India had managed the crisis better than several countries through diversification of imports, strategic stock management and calibrated demand-side measures.

He said India had operated in a “crisis-management mode” over the last two months to ensure uninterrupted energy supplies, stable prices and consumer protection.

Addressing concerns over India maintaining 90-day strategic reserves as recommended by the International Energy Agency (IEA), Mittal said such stockpiling would involve significant financial costs for a country consuming around 5 million barrels of oil per day.

“For smaller countries like Japan, having a strategic reserve for 90 days is easier. For a country like India, having reserves for 90 days would mean putting a lot of money under a box,” he said.

“We have to see creative use of this, like a trading partner, so that crude is not locked up but producing some returns,” he added.

Mittal also highlighted ongoing work on LNG trucking, green hydrogen and higher ethanol blending in transportation fuels as part of India’s long-term transition towards diversified and cleaner energy sources.