SynopsisIndia possesses fuel reserves for 76 days. The nation is well-prepared for potential supply disruptions. Diversified sourcing and robust refining capacity ensure energy security. India expects stable oil and gas supplies. Energy prices are anticipated to moderate. Investments in domestic exploration will further bolster long-term energy security.AgenciesIndian Oil Minister Hardeep Singh PuriIndia has fuel reserves sufficient for 76 days of consumption and does not expect prolonged pressure on oil and gas markets despite ongoing geopolitical tensions, Petroleum and Natural Gas Minister Hardeep Singh Puri said in an interview with CNN-News18.Puri said India was adequately insulated against potential supply disruptions and remained confident about securing energy supplies through a diversified sourcing strategy, even as concerns persist over instability in West Asia and its impact on global energy markets."We have 76 to 80 days of reserves," Puri said, referring to the country's combined stockpile of strategic petroleum reserves, refinery inventories and commercial fuel stocks. He added that India continued to maintain adequate supplies across the energy value chain and had not witnessed any shortages despite recent market volatility.The minister said the reserve figure should not be viewed solely through the lens of strategic petroleum reserves, arguing that refinery inventories and commercial stocks are equally critical to ensuring energy security in a country of India's size.Puri's comments come at a time when global oil markets remain sensitive to geopolitical developments in the Middle East, raising concerns about supply disruptions and higher import costs for major consuming nations.However, the minister struck an optimistic note on prices, saying he expected oil and gas supplies to remain sufficient and energy prices to moderate in the coming months."I don't expect oil prices to be this high for a very long time," Puri told CNN-News18, adding that additional supplies from producers in the Western Hemisphere would help offset any shortages in global markets.He also said India was not worried about natural gas prices and expected more liquefied natural gas supplies to come from Mozambique, which has emerged as an increasingly important source for Asian buyers.According to Puri, India's refining sector remains one of its strongest buffers against external shocks. The country operates 24 refineries with refining capacity of around 260 million metric tonnes per annum, which is set to rise further.He noted that while several advanced economies have seen refining capacity stagnate or decline, India has continued to expand its downstream infrastructure, allowing it to meet domestic demand while remaining a significant exporter of refined petroleum products.The government, he said, routinely replenishes reserves when prices are favourable while also drawing on inventories for commercial purposes when market conditions warrant.Puri also highlighted efforts to strengthen the country's broader energy infrastructure, including expansion of LPG storage capacity and continued investments in domestic exploration and production.The minister said ongoing investments in exploration, including recent discoveries in the Andaman basin and plans to drill more wells, would further support India's long-term energy security strategy.Despite heightened geopolitical uncertainty, Puri said India remained well positioned to manage potential disruptions through a combination of fuel inventories, diversified imports, refining capacity and expanding domestic energy infrastructure.Read More News on...moreless