Overview
- ONGC Chairman Arun Kumar Singh, speaking Friday at the PNGRB energy security meet, urged a pivot away from easy Gulf assumptions with a push for faster domestic drilling and bigger buffers.
- Singh said ONGC is "doing something big" on strategic petroleum reserves and called large oil and gas stockpiles a national safeguard that must be built "whatever it takes."
- His remarks follow what he called the worst energy shock in decades after Iran effectively closed the Strait of Hormuz, a narrow channel that carries about a fifth of global oil and gas.
- India’s exposure remains high with roughly half of crude, about 30% of gas, and most LPG tied to the Middle East, while formal strategic reserves cover about 9.5 days versus the IEA’s 90‑day guide.
- Indian Oil chief Arvinder Singh Sahney said supplies are stable after wider sourcing and a roughly 40% jump in domestic LPG output, adding there is no need to panic as refineries run near full tilt.