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India eyes oil exploration expansion after Middle East war shortages <p>Hit by the biggest energy supply shock in decades during the Middle East war, import-dependent India is expanding domestic crude exploration, its oil minister says.</p> <p>India, the world’s third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the <a href="https://www.dawn.com/news/2011596">conflict</a> between the United States and Iran.</p> <p>With a temporary <a href="https://www.dawn.com/news/2007972/us-iran-reach-preliminary-agreement-to-end-war-signing-set-for-friday">US-Iran deal</a> in place to pause hostilities, oil and gas shipments are flowing through the Gulf waterway again, and restrictions and price hikes in India are being rolled back.</p> <p>But Minister of Petroleum and Natural Gas Hardeep Singh Puri said the energy crunch provided fresh impetus for India’s expansion of domestic supplies.</p> <p>“We are currently in the process… to bid out about 250,000 square kilometres (96,500 square miles) of unexplored area,” Puri told <em>AFP.</em></p> <p>India is a modest producer in global terms.…

How Long Can India's Oil Reserves Last Amid Middle East Crisis? Centre ... India's strategic oil reserves , designed to provide cover for about 9.5 days of supplies during disruptions or price shocks, are currently sitting at only two-thirds capacity, the Rajya Sabha was informed on Monday. According to Minister of State for Petroleum and Natural Gas Suresh Gopi, Indian Strategic Petroleum Reserve Ltd (ISPRL) has around 3.372 million tonnes of crude stock available. The stockpile has been in focus since the breakout of war in the Middle East and the subsequent disruption in transport along the Strait of Hormuz snapped the supply of crude oil, natural gas, and LPG from the Gulf countries. "Quantity of the crude available in the caverns varies depending on market conditions," Minister of State for Petroleum and Natural Gas Suresh Gopi said in a written reply in the Upper House. "Currently, ISPRL has around 3.372 million tonnes of crude stock available, which is around 64 per cent of the total storage capacity." ISPRL is the special purpose vehicle that established strategic petroleum reserves (SPR) facilities with a total capacity of 5.33 million tonnes of crude oil at three locatio…

Explained: Govt plans 5 new strategic oil reserves; why India still ... ADVERTISEMENT The central government has planned to build five new strategic petroleum reserves (SPRs) to strengthen India’s energy security after the West Asia conflict exposed the country’s vulnerability to disruptions in global oil supplies. Once these projects are completed, India’s strategic oil reserve capacity will increase from the current 9.5 days to around 40 days of crude oil imports. However, this will still fall well short of international standards. The International Energy Agency (IEA) recommends that countries maintain emergency oil reserves equivalent to at least 90 days of net oil imports to ensure energy security during supply disruptions. India still has a long way to go, as it also lags behind several other Asian economies in building strategic oil reserves. According to a report byBusiness Standard, five new SPR projects are planned across Chandikhol in Odisha, Bina in Madhya Pradesh, Bikaner in Rajasthan, and Mangaluru and Padur in Karnataka. Under the proposed roadmap, the Centre aims to award the construction contract for the Chandikhol strategic petroleum reserve by the end of FY2…

Barrel of backups: India's crude imports bounce back despite Middle East disruptions India's crude oil imports are nearing pre-conflict levels, thanks to refiners diversifying away from traditional Gulf suppliers. Purchases from Russia, the US, and other regions have compensated for Middle East disruptions. Russia remains a favored source due to attractive pricing. While the Strait of Hormuz has reopened, Asian refiners are cautious about immediate increases in Gulf purchases, focusing on existing cargo coverage and maintenance schedules.

Russian crude here to stay? Why India-US energy ties may be more about LPG, LNG than oil Geopolitical developments in the last few months have dictated India’s energy supplies. Be it crude oil, LPG or LNG, India is largely dependent on the world to meet its needs, and the US-Iran war has disrupted supplies via the Strait of Hormuz.

How India is managing its oil supply amid Hormuz closure, US-Iran conflict While India continues to rely heavily on energy supplies from the Gulf, the crisis has prompted a faster push towards diversification. Higher crude purchases from Russia, Brazil and Venezuela have helped soften the impact on oil imports.

India may ask refiners to maintain larger crude oil inventories; here's why The disruption to shipping through the Strait of Hormuz has challenged a long-standing belief among Indian policymakers that the country's proximity to the crude-rich Persian Gulf reduced the need for large strategic petroleum reserves.

India eyes further oil exploration after Iran war shortages Hit by the biggest energy supply shock in decades during the Middle East war, import-dependent India is expanding domestic crude exploration, its oil minister says. India, the world’s third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the conflict between the United States and Iran. With a temporary US-Iran deal in place to pause hostilities, oil and gas shipments are flowing through...

India eyes oil exploration expansion after Middle East war shortages New Delhi, Jul 05, 2026 -Hit by the biggest energy supply shock in decades during the Middle East war, import-dependent India is expanding domestic crude exploration, its oil minister says.India, the world's third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the conflict between the United States and Iran.With a temporary US-Iran deal in place to pause hostilities, oil and gas shipments are flowing through the Gulf waterway again, and restrictions and price hikes in India are being rolled back. By commenting, you agree to theProhibited Content Policy By commenting, you agree to theProhibited Content Policy

'India needs to augment its strategic crude oil reserves': EY warns as import dependence crosses 90% in FY26 India's dependency on imported crude oil has exceeded 90%, creating a significant risk according to EY's findings. The consultancy emphasizes the urgent need for enhancing strategic oil reserves, which presently last just five days compared to China's extensive reserves. This is essential as domestic production wanes and fuel consumption rises, making India vulnerable to global supply disruptions and geopolitical tensions. A thorough reserve strategy is strongly advised.

India to double US gas buys, cut Gulf reliance India is significantly boosting LPG imports from the US, aiming to double current purchases and reduce reliance on Gulf nations. This strategic shift, spurred by recent West Asian conflicts, ensures a diversified supply chain and aids in building a crucial 30-day strategic reserve. The move also strengthens energy ties with the US, helping to balance trade.

Explained: How India weathered the West Asia oil shock and ... - CNBCTV18 Explained: How India weathered the West Asia oil shock and what it means for future energy security From boosting LPG production in just eight days to diversifying crude imports and building strategic reserves, India's response to the Gulf oil crisis offers a blueprint for managing future energy disruptions. Here's how the country protected fuel supplies, kept pump prices stable and why experts say strengthening energy security has become more important than ever. By Ashmit Kumar June 29, 2026, 6:43:45 PM IST (Published) 6 Min Read India emerged from the recent Gulf oil crisis with relatively limited economic damage, but the episode exposed how vulnerable global energy markets remain to geopolitical conflict. While crude prices have retreated and shipping through the Strait of Hormuz is gradually normalising, experts say the disruption offers important lessons for how India is preparing for future energy shocks. The recent conflict around the Strait of Hormuz—one of the world's busiest oil shipping routes—triggered fears of supply disruptions and briefly pushed crude oil prices sharply higher. Although Brent…

Crude comeback: IOCL, HPCL buy 7 million barrels of energy supplies Indian refiners Indian Oil Corp and Hindustan Petroleum Corp have secured millions of crude barrels from Angola, Nigeria, and Brazil to bolster national reserves. This strategic procurement follows a significant drawdown in stockpiles due to Strait of Hormuz disruptions. Inventories have since rebounded, nearing a year-high, signaling a stabilization of India's energy security amidst global market fluctuations and OPEC+ output adjustments.

India explores oil exploration expansion after Iran war disruption Left under a strain of the biggest energy supply shock in decades during the Middle East war, import-dependent India is now expanding domestic crude exploration, its oil minister s...

India to double US gas buys, cut Gulf reliance India is significantly boosting LPG imports from the US, aiming to double current purchases and reduce reliance on Gulf nations. This strategic shift, spurred by recent West Asian conflicts, ensures a diversified supply chain and aids in building a crucial 30-day strategic reserve. The move also strengthens energy ties with the US, helping to balance trade.

Beyond Hormuz: What HPCL Rajasthan Refinery Limited means for India's energy future India is bolstering its energy security following the Strait of Hormuz disruption. Prime Minister Modi inaugurated the HPCL Rajasthan Refinery, a crucial step towards self-reliance for a nation heavily reliant on oil imports. This project, alongside other development initiatives, aims to strengthen manufacturing, boost exports, and enhance resilience against future supply shocks, underscoring India's commitment to national interest and citizen welfare.

India eyes oil exploration expansion after Middle East war shortages ... Audio By Vocalize India's Prime Minister Narendra Modi during the inauguration of chipmaker CG Semi's OSAT facility in Sanand on July 4, 2026.[AFP] Hit by the biggest energy supply shock in decades during the Middle East war, import-dependent India is expanding domestic crude exploration, its oil minister says. India, the world's third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the conflict between the United States and Iran. With a temporary US-Iran deal in place to pause hostilities, oil and gas shipments are flowing through the Gulf waterway again, and restrictions and price hikes in India are being rolled back. But Minister of Petroleum and Natural Gas Hardeep Singh Puri said the energy crunch provided fresh impetus for India's expansion of domestic supplies. "We are currently in the process... to bid out about 250,000 square kilometres (96,500 square miles) of unexplored area," Puri told AFP. India is a modest producer in global terms. Domestic crude production in 2025–2026 was 25.98 m…

India eyes oil exploration expansion after Middle East war shortages IANS India oil exploration (Image for representation) New Delhi: Hit by the biggest energy supply shock in decades during the Middle East war, import-dependent India is expanding domestic crude exploration, its oil minister says. India, the world's third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the conflict between the United States and Iran. With a temporary US-Iran deal in place to pause hostilities, oil and gas shipments are flowing through the Gulf waterway again, and restrictions and price hikes in India are being rolled back. But Minister of Petroleum and Natural Gas Hardeep Singh Puri said the energy crunch provided fresh impetus for India's expansion of domestic supplies. Also read | Fear and doubts post E20 rollout produce an unlikely winner Live Events "We are currently in the process... to bid out about 250,000 square kilometres (96,500 square miles) of unexplored area," Puri told AFP. India is a modest producer in global terms. Domestic crude production in 2025-2026 was 25.98 million metr…

'LPG well covered, crude not a problem': How much energy supplies is India left with? Indian refiners have secured sufficient crude oil and LPG supplies to last through August and mid-July respectively, mitigating concerns from the ongoing Middle East crisis. Purchases from ADNOC and other suppliers, including significant crude acquisitions from the UAE and Brazil, have bolstered inventories. India and the UAE are also expanding strategic oil reserves to enhance energy security.

India's strategic Oil reserve helps tide over the supply disruption Our Bureau New Delhi India has enough oil reserves to keep the country running for nearly two months during any supply crisis, a new government report says. This big stockpile includes over 250 million barrels of crude oil and fuel products stored in secret underground caves and tanks across the nation. ​The reserves sit in key spots like Mangalore, Padur, and Visakhapatnam. They cover seven to eight weeks of needs, beating old claims of just 25 days. Experts say this setup helps India stay calm even if sea routes face blocks. ​India buys oil from 40 countries now, up from 27 ten years ago. Only 40% comes through the busy Strait of Hormuz; the rest flows from Russia, Africa, the Americas, and Asia. Russia topped suppliers in February 2026, sending over 1 million barrels daily despite global tensions. Fuel prices stayed steady for four years. Petrol in Delhi even dropped a bit since 2022, while they jumped in places like Pakistan and Germany. State oil firms absorbed big losses, over Rs 24,000 crore on petrol and diesel, to keep pumps full. Refining power hit 258 million tonnes a year, more than India’s use. Ethano…

India eyes oil exploration expansion after Middle East conflict ... Minister of Petroleum and Natural Gas Hardeep Singh Puri posted a video on social media in June of a gas flare at an exploratory well drilled in the Andaman Sea by state-owned Oil India. - X/@HardeepSPuri NEW DELHI: Hit by the biggest energy supply shock in decades during the Middle East conflict, import-dependent India is expanding domestic crude exploration, its oil minister says. India, the world's third-largest importer of oil and the second-largest buyer of liquefied petroleum gas, faced major disruptions due to restrictions on the Strait of Hormuz during the conflict between the United States and Iran. With a temporary US-Iran deal in place to pause hostilities, oil and gas shipments are flowing through the Gulf waterway again, and restrictions and price hikes in India are being rolled back. But Minister of Petroleum and Natural Gas Hardeep Singh Puri said the energy crunch provided fresh impetus for India's expansion of domestic supplies. "We are currently in the process... to bid out about 250,000 square kilometres of unexplored area," Puri told AFP. India is a modest producer in global terms. Domestic cru…