AsiaBreaking NewsBusinessDailyEconomyGeneralHotPoliticsWorld

No shortage of petroleum products in India: Minister

A petrol pump in India. File Pic
A petrol pump in India. File Pic

There was no shortage of petroleum products in the country due to crisis in Iraq, Indian minister has said.

New Delhi, Aug 5/Nationalturk – Indian Petroleum minister has said there was no shortage of petroleum products in the country due to crisis in Iraq.

“There is no overall shortage of petroleum products in the country,” India’s junior minister for Petroleum & Natural Gas Dharamendra Pradhan told lawmakers in Lok Sabha, lower house of Indian parliament.

There were media reports that India was facing shortage of petroleum products due to ongoing conflict in Iraq, where Islamic State (IS) militants have seized large swathes of territory from Iraqi troops.

Indian petroleum minister said in order to ensure energy security for India, the oil companies were continuously engaged in diversifying their crude basket to eliminate dependence on any particular country or region.

‘Intermittent shortage reported in 5 states’

The minister, however, said intermittent shortage was reported in 5 Indian states.

“The shortage in the State was due to un-planned shutdown of Mittal Energy Limited (HMEL) Bhatinda Refinery, extended shutdown of Panipat Refinery, shortfall in production at various other refineries such as Barauni, Visakh, Mumbai, Bina,” he said.

The minister further said in view of high industry demand for Rail rakes in North India, there has been shortage of rakes accompanied with higher lead times and lower turnaround.

“If oil companies anticipate shortages, they make alternate arrangements for products availability from alternate sources or by exchanging product with other companies,” Pradhan said.

He said Ministry of Petroleum and Natural Gas convened a meeting with oil companies and Railways on July 7  and action plan was drawn for short-term and long-term measures.

“Oil companies in the country have finalized imports of petrol during July-August, 2014 period to meet the demand due to shortfall from own refineries. Diesel was procured extra from India-based oil companies to meet the demand,” added the minister.

Write your comments and thoughts below

Asia News/ NationalTurk India News

Show More

Related Articles

Back to top button
Breaking News
%d bloggers like this: