Indian Oil and Gas Minister Hardeep Singh Puri said that the country has fuel reserves for 76-80 days of consumption. The words of the Indian official are quoted by the Economic Times.
Thus, India has created a significant buffer against any short-term supply disruptions caused by tensions in the Middle East. Puri stressed that the global shortage will be mitigated by producers outside the Persian Gulf, and additional gas supplies from Mozambique will further strengthen India's energy security.
Earlier, the president of the Indian Business Alliance, Sammy Kotwani, said that the country was ready to increase purchases of Russian oil if market conditions required it. According to him, Russian raw materials play an important role in India's industrial growth, as well as in the development of its transport and agriculture.
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