By Admin 
Petroleum Minister Hardeep Singh Puri told the Rajya Sabha on Monday (9 February 2026) that India has so much petroleum reserves that the country can meet its oil needs for 74 days. He gave this information while answering the questions of the members during the question hour.
Puri said that India is a rapidly growing country and it is very important for such a country to have safe and strong oil reserves. He said that if there is any kind of turmoil in the world, like war, supply disruption or huge increase in prices, India will not be in a weak position.
Oil refinery system exists
Hardeep Singh Puri said that oil refinery systems are present on both the western and eastern coasts of India, due to which the country’s supply system remains strong. Citing International Energy Agency (IEA) data, Puri said that today India is the third largest consumer of crude oil in the world. Along with this, India also has the fourth largest oil refining capacity in the world. At present, India refines about 26 crore metric tons of crude oil annually, which will be increased to 32 crore metric tons per year in the future. Apart from this, India is also the world’s fifth largest exporter in terms of petroleum products.
Why was the petroleum reserve created?
Puri said that petroleum reserves have been created so that in case of any global crisis, the country’s oil needs can be met without any interruption. According to IEA, any country should have at least 90 days of oil reserves. He said that India estimates the total reserves by adding its strategic reserves as well as the oil present in the refineries. At present, overall India has oil reserves of 74 days. He admitted that ideally it should be 90 days, but at present he feels safe with the stock of 74 days. Consideration can also be given to increasing it further in future.
53.3 lakh metric tons of crude oil
Apart from this, the minister said in a written reply that the government has created oil reserves at three places in Andhra Pradesh and Karnataka through Indian Strategic Petroleum Reserve Limited (ISPRL). Their total capacity is 53.3 lakh metric tons of crude oil. The quantity of oil in these reserves keeps increasing and decreasing according to the market conditions.