India has 50 days of fuel reserves, government source says amid West Asia crisis As the global oil market remains volatile due to the ongoing conflict in Ukraine and the fragile situation in West Asia, India has assured that it has a significant stockpile of fuel reserves. According to a government source, the country has enough fuel for at least 50 days, which is expected to help mitigate any potential impact on the domestic economy. The West Asian region has been plagued by tensions between major oil-producing nations and the global energy market has been experiencing fluctuations as a result. India, being one of the largest consumers of crude oil in the world, has been keeping a close eye on the situation and has been working to ensure that its fuel reserves are adequate to meet any potential demand. While there have been concerns about the impact of a possible shortage or price hike in fuel prices, the government source has assured that India is well-prepared to handle any eventuality. The country's strategic petroleum reserve (SPR) has been continuously replenished over the years, and it currently holds around 47 million tonnes of oil. The SPR was created in 2002 with the aim of reducing India's dependence on imported oil and mitigating the impact of price volatility. It is operated by Indian Oil Corporation, Hindustan Petroleum Corporation, Bharat Petroleum Corporation, and Mangalore Refinery and Petrochemicals Limited. The current fuel reserves are more than sufficient to meet the country's demand for at least 50 days, considering the average daily consumption of around 1.7 million barrels of oil per day. The government i...#India #Ukraine #West_Asia #Indian_Oil_Corporation #Hindustan_Petroleum_Corporation #Bharat_Petroleum_Corporation #Mangalore_Refinery_and_Petrochemicals_Limited #Solar_Power #Wind_Power
