The Parliament was informed on Monday that India now has a total storage capacity of 74 days for crude oil and petroleum products, which may help mitigate disruptions in the event of unfavorable events like geopolitical conflicts.

The government has constructed Strategic Petroleum Reserves facilities with a combined capacity of 5. 33 million metric tons (MMT) that may serve as a buffer against transient supply disruptions, such as those caused by geopolitical events. This is intended to cover approximately 9. 5 days’ worth of crude oil demand.

Additionally, the nation’s Oil Marketing Companies (OMCs) have storage capacity for crude oil and petroleum products for 64. 5 days. In a written response to the Rajya Sabha, Minister of State for Petroleum and Natural Gas Suresh Gopi stated that the nation’s current total storage capacity for crude oil and petroleum products is 74 days.

In July 2021, the government had also authorized the construction of two additional facilities with a combined storage capacity of 6. 5 MMT at Chandikhol (4 MMT) in Odisha and Padur (2. 5 MMT) in Karnataka under a Public Private Partnership (PPP) model in order to increase the petroleum reserves’ capacity. The oil reserve will increase by the equivalent of 12 days worth of imports as a result of this expansion.

In addition, the government has taken several measures to lessen the danger of supply interruption and ensure a steady energy supply chain in the face of geopolitical unpredictability. This involves diversifying crude oil import sources, avoiding conflict areas, and enhancing diplomatic connections with key oil-producing nations and international organizations like the International Energy Agency (IEA), the International Energy Forum (IEF), and the Organization of the Petroleum Exporting Countries (OPEC).

Meanwhile, India has found its hydrocarbon reserves through continuous exploration of its sedimentary basins. The annual estimates under the Petroleum Resources Management System (PRMS) show that as of April 1, 2025, the country’s proven Estimated Ultimate Recovery (EUR) is 1,948. 1 million metric tonnes (MMT) for crude oil and 1,844. 3 billion cubic meters (BCM) for natural gas.

The confirmed reserves (Balance Recoverable Reserves) are 423. 1 million metric tons for crude oil and 595. 4 billion cubic meters for natural gas.

In the previous five years, the minister continued, the year-wise percentage of import dependency on crude oil has fluctuated between 85 and 88 percent, while that on liquefied natural gas (LNG) has ranged from 48 to 50 percent.