Only 10 Days of Crude Oil in India's Strategic Petroleum Reserves; Japan Holds Over 200 Days
- Jun 17
- 2 min read
New Delhi, June 17: India’s strategic petroleum reserves, maintained as emergency stockpiles, are sufficient to cover only about 9–10 days of the country’s net crude oil imports, according to a new report released on Wednesday. This is significantly lower than other major import-dependent countries. For instance, countries such as Japan and South Korea maintain reserves sufficient for over 200 days of crude imports, said the report released by the Council on Energy, Environment and Water (CEEW).
It noted that over 85 per cent of India's crude oil imports come from just six countries, including Russia and key West Asian suppliers, limiting the country's flexibility in responding to supply shocks.
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Hemant Mallya, fellow at CEEW, said, "Disruptions in crude oil, LNG, LPG, coal, or key shipping routes can quickly affect cooking costs, transport fuel prices, fertiliser subsidies, industrial competitiveness, and inflation."
The report added that India imports nearly half of its gas demand as LNG but does not have dedicated strategic gas storage facilities, leaving fertiliser plants and city gas distribution networks vulnerable to supply disruptions.
Clean Energy Over Coal
On coal, the report highlighted risks arising from India's dependence on imported coking coal—particularly from Australia—for steelmaking, as well as exposure to Indonesian export policies for non-coking coal imports.
It also noted that declining coal quality and rising production costs are narrowing coal’s cost advantage over firm renewable power.
The report argued that clean energy can reduce India's exposure to imported fossil fuels. However, it added that the energy transition may create a new form of strategic dependence on critical minerals, technologies, and industrial inputs, which must be managed through domestic manufacturing, supply-chain diversification, recycling, and strategic international partnerships.
Mallya said, "India's next phase of energy security must move beyond securing fossil fuels to a clear transition plan: optimising gas system utilisation, avoiding further refinery expansion, accelerating viable EV adoption, electrifying industry, reconfiguring refineries for lower gasoline demand, and building resilient green technology supply chains."
