A view of the Indian Oil Company refinery in Noonmati, Guwahati. file. |Picture courtesy of ANI
The Ministry of Petroleum and Pure Gasoline has ordered oil and gasoline firms to share particulars of their exports, imports and inventories with authorities companies as India seeks to guard shoppers from provide shortages amid hovering international costs triggered by the US-Israel battle in opposition to Iran. In line with a authorities order issued late on Wednesday (March 18, 2026), India has designated the Petroleum Planning and Evaluation Cell (PPAC) to gather and analyze info.
The order states that firms should share info no matter “contracts, agreements, industrial agreements, or confidentiality obligations,” including that no firm can refuse to share particulars by claiming they’re “commercially delicate or proprietary.”
India has been hit laborious by hovering oil costs and disruptions to grease and gasoline provides, however not like China, it has not moved to ban exports of refined fuels.
India’s transfer to chop gas exports will hit Reliance Industries, which operates the world’s largest refinery, as different refiners have all however halted gas exports.
All firms concerned within the oil and gasoline provide chain, together with oil producers, importers, refiners, gas and gasoline retailers, liquefied pure gasoline importers, pipeline operators, and petrochemical crops, had been ordered to supply knowledge to PPAC.
India is the world’s fourth-largest refiner and third-largest oil importer and client, assembly greater than 90% of its oil wants by overseas purchases.
The Heart has thus far maintained that the nation has adequate crude oil provides and refined gas shares to satisfy native gas wants.
However the world’s second-largest LPG importer is dealing with its worst cooking gasoline disaster in a long time, with shipments from the Strait of Hormuz all however halted because of the battle.
India sources greater than 40% of its crude oil imports and 90% of its liquefied petroleum gasoline imports from West Asia.
Indian refiners have purchased hundreds of thousands of barrels of Russian crude oil floating in worldwide waters after the US authorities granted sanctions waivers.
India has invoked emergency powers to order refiners to maximise LPG manufacturing and scale back gross sales to trade to keep away from a scarcity of 333 million properties with LPG connections.
India final week urged shoppers to keep away from panic shopping for of LPG cylinders and transfer to piped pure gasoline wherever attainable.
