(a) whether the Government propose to create oil reserve for 3-4 months on
the lines of certain Western Countries;
(b) if so, the number of days for which crude oil is kept in reserve in the
country and details of policy worked out; and
(c) the steps envisaged to meet emergency if supplies from abroad are
suspended etc.?
THE MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS AND MINISTER OF STATE IN THE MINISTRY OF PARLIAMENTARY AFFAIRS (SHRI SANTOSH KUMAR GANGWAR)
(a) to (c): Government is considering to provide strategic tankage for crude oil gradually in phases with a view to achieve a total of 45 days` cover. The proposed tankage is envisaged to meet the emergency requirements arising out of any disruptions in the crude oil supplies from abroad. The details of the policy have not been finalized till yet.