(a) the details of petroleum buffer stock in the country;
(b) whether the stock is enough for one year in case any untoward happening in international relations;
(c) if so, the details thereof;
(d) the details of petroleum production in the country; and
(e) the steps taken by the Government to enhance the petroleum production in the country?
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS
(SHRI RAMESWAR TELI)
(a)to(c): The capacity of the Strategic Petroleum Reserves (SPR) facilities established in the country so far is 5.33 Million Metric Tonnes (MMT) which is estimated to provide for about 9.5 days of crude oil requirement. Oil Marketing Companies (OMCs) currently have capacity for 64.5 days. Hence, total storage capacity of crude oil and petroleum products is 74 days.
(d)&(e): The details of production of crude oil and petroleum products for the last 3 years and current year are as follows :
2018-19 2019-20 2020-21 2021-22 (Apr-Jan)
Production of Crude Oil (in MMT) 34.2 32.2 30.5 24.9
Production of Petroleum Products (in MMT) 262.4 262.9 233.5 209.0
Various long term and short term policy initiatives have been taken to increase production of domestic oil and gas which inter-alia include Discovered Small Field Policy, Hydrocarbon Exploration and Licensing Policy (HELP), Policy framework for Coal Bed Methane, etc. The Government has awarded additional 105 blocks and 1,56,579 sq.km. area for exploration under HELP. Further, Government has also provided functional freedom to National Oil Companies and facilitated wider private sector participation by streamlining approval processes including electronic single window mechanism.
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