New Delhi: Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Tuesday that the country has significantly enhanced domestic LPG production from about 36 thousand metric tonnes per day to nearly 54 thousand metric tonnes per day, helping meet rising demand while ensuring stability in fuel supply and prices.
Speaking at the session “Forging a New Energy Equation – Partnering Friends, Old and New” during the CII Annual Business Summit 2026, Puri said, “At a time of global supply shocks and rising crude prices, India ensured seamless availability of petrol, diesel, and LPG across the country, with no reports of shortages. Despite sharp global volatility, fuel prices have largely remained unchanged since 2022, reflecting strong policy coordination and effective supply management.”
The Minister highlighted that the country has built adequate energy buffers, including approximately 60 days of crude reserves and 45 days of LPG stocks, ensuring security against external disruptions.
He also stressed that India’s energy story must be seen in its entirety, not only as a major importer, but also as the world’s 3rd largest refining hub and 4th largest exporter of petroleum products, with a refining capacity of around 260 million metric tonnes per annum.
On the upstream front, the Minister stressed that the government has initiated significant reforms to revive domestic output, while acknowledging that this remains a capital-intensive, long-gestation sector. India has 3.5 million sq. km. of sedimentary basins, where exploration is being scaled up from 6% to 15%. Previously restricted “no-go” areas have been opened, and policy measures such as the Open Acreage Licensing Policy (OALP) IX are encouraging greater participation from both domestic and global players.
Highlighting future potential, he noted that the Andaman region has consistently shown promising hydrocarbon presence, while flagship initiatives such as ‘Samudra Manthan’, launched under the vision of the Hon’ble Prime Minister in August last year, aim to accelerate deepwater exploration.”
He further described the Oilfields (Regulation and Development) Amendment Act, 2025, as a major milestone which has enabled ease of doing business and encouraged private investments in the sector.
Looking ahead, Puri outlined a forward strategy focused on expanding infrastructure, strengthening exploration, and accelerating the transition to cleaner energy.
He urged industry to transition from Liquefied Petroleum Gas (LPG) to Liquefied Natural Gas (LNG), and to develop feeder pipelines wherever feasible.
He also encouraged industries to adopt piped gas, which is 15–20% cheaper and significantly cleaner, emphasising the need for responsible energy consumption in alignment with the Hon’ble Prime Minister’s call for citizens to be more mindful of their energy usage.
Speaking at the session, Rajiv Memani, President, Confederation of Indian Industry, highlighted that energy resilience and technological capability, especially artificial intelligence, are emerging as key determinants of national strength.
He commended the government’s proactive engagement with industry and its consultative approach during challenging times.
Ends.
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