A Parliamentary Standing Committee on Petroleum and Natural Gas has urged the Indian government to bolster the nation’s crude oil reserves to match the global standard of 90 days of buffer stock, amid concerns over potential supply disruptions following geopolitical tensions in the Middle East. The recommendation is part of the panel’s 7th Report on ‘Demand for Grants (2026–27)’, presented to Parliament recently.

The committee emphasised that India’s current emergency oil reserves lag significantly behind the internationally accepted benchmark. While oil marketing companies and existing government-held stocks provide some buffer, they fall short of the 90‑day threshold suggested by global energy agencies. The panel’s push comes against the backdrop of heightened volatility in crude markets due to ongoing conflicts that have strained global supply chains.

To achieve this target, the committee urged the Ministry of Petroleum and Natural Gas to explore expansion of strategic storage infrastructure. Among the panel’s recommendations is the construction of additional underground caverns and other storage facilities in regions where geological conditions permit such developments. Strategic expansion of reserve capacity, the committee argued, would strengthen India’s ability to weather disruptions in crude imports and shield its economy from steep price swings.

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The report also touched on broader energy distribution priorities, noting the government’s goal to significantly expand piped natural gas (PNG) connections as part of its City Gas Distribution networks. Given that PNG connections currently lag behind ambitious targets for 2034, the committee recommended exploring ways to accelerate network growth in underserved areas.

In addition, the panel highlighted concerns over uneven consumption of liquefied petroleum gas (LPG) under the Pradhan Mantri Ujjwala Yojana in rural regions. It suggested considering targeted subsidies for areas with low refill rates to ensure equitable access to clean cooking fuel. These suggestions reflect ongoing efforts to balance energy security with broader socio‑economic priorities.

India’s heavy reliance on imported crude — estimated at roughly 90 per cent of domestic needs — underscores the urgency of strengthening reserves. Experts say that meeting the 90‑day buffer standard would align India with International Energy Agency norms and improve strategic resilience, particularly as global supply lines remain sensitive to geopolitical developments.

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