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- Oil Crisis Amid Iran Israel War | PM Modi Meets Minister, LPG Quota Boost
New Delhia few moments ago
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PM Narendra Modi held a meeting with Petroleum Minister Hardeep Singh Puri at the Parliament House on Wednesday regarding the turmoil in the global oil market amid the Iran-Israel war. In this, the availability of crude oil and gas, their import and the strategy to deal with the possible crisis were discussed.
The government also reviewed its emergency oil reserves (SPR) in the meeting that lasted for about 2 hours. It can be used when needed. According to officials, the country has oil stock available for a few weeks, due to which the possibility of crisis is less at present.
In fact, the closure of the Strait of Hormuz has affected oil supply worldwide. In the atmosphere of war, three Indian ships Shivalik, Nanda Devi and Jag Ladki have reached the ports of Gujarat carrying oil and gas.
Petroleum Ministry official Sujata Sharma said that the government is ready to give 10% more LPG to the states, if they help in gradually adopting PNG instead of LPG.
He said that the problem of LPG still persists. Online booking has improved, but there are still long queues at the distributor, and more than 2300 inquiries have been conducted recently.
Nanda Devi ship crossed the Strait of Hormuz and reached Vadinar Port in Gujarat at 2:30 pm on Tuesday night.
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