No Need For Panic : Oil Ministry On LPG Bookings
Oil Ministry officials assured that normal delivery cycle of 2.5 days is maintained.
No Need For Panic, Normal Delivery Cycle Of 2.5 Days Maintained: Oil Ministry on LPG bookings
New Delhi, Mar 11 (PTI) Amid the ongoing West Asia conflict, a senior Oil Ministry official on Wednesday said that there is no need for panic booking of LPG cylinders, and that the normal delivery cycle of two-and-a-half days is being maintained.India's crude oil supplies remain secure, Sujata Sharma, Joint Secretary in the Ministry of Petroleum and Natural Gas, told reporters at a briefing.
Crude oil is being sourced from non-Strait of Hormuz routes, she said.
Government measures have led to a 25 per cent rise in LPG production, according to the ministry.
She said that there is no need for panic booking of cooking gas cylinders and assured that the normal delivery cycle for domestic households remains at two-and-a-half days.
"Feedback suggests that some panic booking and hoarding behaviour by miss-information. I want to clarify that our normal deliver cycle for domestic LPG remains around two-and-a-half days, so I request...there is no need for customers to rush-book the cylinders... there is no need for panic booking," she said.
State governments have been asked to take preventive actions to prevent hoarding and black marketing of fuel, according to the ministry.
"India's crude supply remains secure. Our daily consumption is about 55 lakh barrels...through diversified procurement, the volumes we have secured today exceed what would normally have arrived through the Strait of Hormuz during this period," she said.
India imports crude from nearly 40 countries.
The oil marketing companies have secured various crude cargoes from different sources, and as a result of this diversification, about 70 per cent of India's crude imports are now coming from routes outside the Strait of Hormuz, compared with about 55 per cent earlier, she added.
"As I speak to you today, about two LNG cargoes are headed for India, and they will arrive within a few days, which will further strengthen the crude supply position in the country," Sharma said. PTI MBI ANZ HVA
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New Delhi: Amid the ongoing conflict in West Asia regions, the government on Wednesday assured the consumers that there is no need for panic booking of LPG cylinders as the emergency measures to manage supply disruptions have led to a 25 per cent increase in domestic LPG production. So, the consumers need not rush for additional cylinder bookings, while the normal delivery cycle for domestic households remains around 2.5 days, according to a senior oil ministry official.
Speaking during an inter-ministerial briefing on recent developments in West Asia, Sujata Sharma, joint secretary in the ministry of petroleum and natural gas, said that India has taken multiple steps to safeguard LPG and crude oil supplies amid rising geopolitical tensions. “India currently imports around 60 per cent of its LPG requirements, and nearly 90 per cent of these imports pass through the Strait of Hormuz. To reduce the risk of shortages, the government has directed domestic refiners and petrochemical companies to maximise LPG production,” she said.
The oil ministry has also urged consumers not to rush for additional cylinder bookings, stressing that the normal delivery cycle for domestic households remains around 2.5 days. “The normal delivery cycle of two-and-a-half days is being maintained. To manage demand temporarily, the government has increased the minimum gap between LPG bookings from 21 days to 25 days,” Sharma said.
“On March 8, the government asked refineries and petrochemicals to maximise their LPG production. All C3 and C4 hydrocarbon streams, which include propane, propylene, butane and butene, would add to the LPG pool, and the same would be supplied to three public sector companies for domestic supply. As a result, our domestic LPG production has increased by 25 per cent,” she added.
She further said that crude oil is being sourced from non-Strait of Hormuz routes to meet the demand and the government has also stepped in to cushion consumers from rising costs as well. “Feedback suggests that some panic booking and hoarding behaviour by miss-information. I want to clarify that our normal delivery cycle for domestic LPG remains around two-and-a-half days, so I request you all that there is no need for customers to rush-book the cylinders and there is no need for panic booking,” she said.
Apart from the Centre’s multiple measures, the ministry officials also said that state governments have been asked to take preventive actions to prevent hoarding and black marketing of fuel. “India's crude supply remains secure. Our daily consumption is about 55 lakh barrels. Through diversified procurement, the volumes we have secured today exceed what would normally have arrived through the Strait of Hormuz during this period,” the joint secretary said.
