Equity

Prime Minister Narendra Modi has said there is no energy security crisis in India despite the ongoing West Asia conflict. Making a statement on the ongoing West Asia conflict and explaining India's position on the issue in the Lok Sabha, the PM said the supply of petrol and diesel remains smooth across the country. He asserted that India has more than 5.3 million metric tonnes of strategic petroleum reserves. Mr Modi informed the House that the country is also working on arrangements for more than 6.5 million metric tonnes of additional storage. He highlighted that in the last eleven years, the country's refining capacity has increased significantly. The Prime Minister said the government is in constant contact with suppliers from different countries and the effort is to ensure that oil and gas supplies continue from the sources wherever possible.

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