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India has 60 days of crude oil, natural gas, says govt as Rajnath Singh chairs IGoM meeting to review energy supply
Officials said India has 60 days of crude oil and natural gas stocks, while oil firms absorb nearly Rs 1,000 crore in daily losses.
- On Monday, India confirmed it holds 60 days of crude oil and natural gas stocks, plus 45 days of LPG reserves, while government and private sector leaders issued a clarion call for a "national mission" to conserve fuel.
- Defence Minister Rajnath Singh chaired an Informal Group of Ministers meeting to address economic strain caused by the 70-day global conflict in West Asia, which has disrupted energy markets and forced domestic oil marketing companies to absorb massive costs.
- Indian oil marketing companies absorb nearly Rs 1,000 crore daily to shield consumers from "astronomical" prices, while the nation maintains comfortable foreign exchange reserves of $703 billion to weather ongoing instability.
- Prime Minister Narendra Modi urged citizens on Sunday to "institutionalise responsible consumption" through public transport and carpooling, aiming to stretch energy stockpiles and reduce pressure on foreign exchange reserves.
- Ministries and States must coordinate measures to "institutionalise fuel efficiency, public awareness, and responsible consumption behaviour," treating this crisis as an opportunity to reduce "wasteful consumption" and strengthen long-term energy security.
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India has 60 days of crude oil, natural gas, says govt as Rajnath Singh chairs IGoM meeting to review energy supply
India has 60 days of crude oil and natural gas supply, as confirmed by the government. Defence Minister Rajnath Singh urged citizens to ‘remain calm’ and assured that measures are being taken to prevent shortages amid global disruptions.
·New Delhi, India
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aninews.in+3 Reposted by 3 other sources
India has 60 days of crude oil, 60 days of Natural Gas & 45 days of LPG rolling stock: Centre
Despite international volatility, the IGoM confirmed that India's immediate energy security is robust. The government revealed a significant "rolling stock" of reserves to prevent any domestic panic.
·India
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Coverage Details
Total News Sources15
Leaning Left0Leaning Right4Center3Last UpdatedBias Distribution57% Right
Bias Distribution
- 57% of the sources lean Right
57% Right
C 43%
R 57%
Factuality
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