India's Robust Energy Security Report

A government report from India details the nation's strong energy security position, maintaining over 250 million barrels of crude oil and refined petroleum products, equivalent to seven to eight weeks of supply. The report counters claims of low reserves and emphasizes India's diversified energy procurement from 40 countries, with only 40% of crude imports passing through the Strait of Hormuz. Russia remains India's largest crude oil supplier, with India complying with G7 price cap rules and receiving a 30-day waiver from the United States===United States Department of the Treasury for continued purchases. Domestically, the 20% ethanol blending program displaces 44 million barrels of crude annually, and refining capacity exceeds national demand. Indian refiners also bridged fuel gaps in Europe following sanctions on Russian crude. Retail fuel prices in India have remained stable for four years, contrasting with significant increases in Pakistan and Germany, due to public sector oil companies absorbing substantial losses.