New Delhi

India’s strategic petroleum reserves currently cover only 9–10 days of the country’s net crude oil imports, far below the stockpiles maintained by major import-dependent economies such as Japan and South Korea, according to a report by the Council on Energy, Environment and Water (CEEW).

The report, ‘How Secure is India’s Energy Future? Assessing Accessibility, Reliability, and Affordability’, noted that more than 85 per cent of India’s crude imports come from just six countries, including Russia and key West Asian suppliers, making the country vulnerable to geopolitical disruptions.

It also highlighted that India imports nearly half of its natural gas requirements as LNG but lacks dedicated strategic gas storage facilities, exposing fertiliser plants and city gas networks to supply shocks.

Coal security is also under pressure due to dependence on imported coking coal from Australia for steelmaking and Indonesian export policies affecting non-coking coal. At the same time, declining domestic coal quality and rising production costs are eroding coal’s cost advantage.