If Iran-Israel war goes on, then for how many days will India be able to meet its oil demand?

50 per cent of India's crude oil imports pass through the Strait of Hormuz.

New Delhi: The US-Israel war with Iran appears likely to drag on. Although several top leaders, including Iran’s Supreme Leader Ayatollah Ali Khamenei, were killed in the attack, Iran’s government and armed forces, the Iranian Revolutionary Guards Corps (IRGC), are holding the line. While the US and Israel are engaged in a campaign for regime change in Iran, Iran has announced the closure of the Strait of Hormuz, a vital route for crude oil trade. This is a crucial corridor for India’s oil and gas trade with Arab countries, accounting for 20% of its crude oil supplies. Not only Iran, but countries like Saudi Arabia, the UAE, Qatar, and Kuwait also supply oil and gas to India through this route.

How much oil does India have?

An Indian Express report, citing experts, stated that India has stored oil in underground storage facilities to deal with any war or global crisis (such as the Iran-Israel tensions). These reserves are primarily located in three cities: Visakhapatnam, Mangalore, and Padur. They have a capacity to store approximately 5.33 million metric tons (MMT) of crude oil, covering 10 days’ worth of needs.

74-day backup

Petroleum Minister Hardeep Singh Puri stated in February that India has a total backup of 74 days, combining its strategic reserves, refinery stocks, and crude oil stored at ports. India is working to increase this to 90 days through Mission Samudra Manthan.

Why is it important for India?

50 per cent of India’s crude oil imports, or approximately 2.5 to 2.7 million barrels per day, pass through the Strait of Hormuz. Crude oil primarily comes from Iraq, Saudi Arabia, the UAE, and Kuwait. In addition to oil, LPG for domestic gas cylinders and LNG also come through this route, especially from Qatar.

India’s crude oil reserves

Indian refineries have approximately 10 days of crude oil reserves, along with approximately a week’s worth of fuel. Therefore, if the Iran-Israel war temporarily disrupts supplies, India can meet its needs from its strategic petroleum reserves.

According to Kpler’s expert report, natural gas supply is a bigger problem for India than crude oil. India imports 80-85 per cent of its LPG needs, most of which comes from Gulf countries through the Strait of Hormuz. India does not have as large a strategic reserve of LPG as crude oil. Therefore, gas supply is a riskier issue.