ADVT:

  Home   Astrology   Business   Indiafocus   Lifestyle   Movies   News   Parenting   Online Exam   Sports   Travel
  Sections
  News Archives
  Did you miss?
  Photo Gallery
  Spotlight
 War on Iraq
 US-Iraq standoff
 The Ayodhya crisis
  Public Opinion
  Write for Indiainfo
Home -> News-> India-> Full Story
PM reviews oil stocks, readiness in case of war
Monday, February 3 103 18:50 Hrs (IST)

New Delhi: Prime Minister Atal Behari Vajpayee on February 3 reviewed India's preparedness to meet any eventuality arising out of disruption in crude oil supplies in the event of war in Iraq.

"We have put in place a contingency plan to meet any eventuality. Oil companies have topped their tanks and we have enough stockpile of crude oil and product to meet country's demand for two months," Petroleum Minister Ram Naik told reporters after the review meeting in New Delhi.

Oil companies have stockpiled over 45 days of petroleum product and 15 days of crude oil supplies.

Sources said Kuwait, a major crude oil supplier to India, which is likely to be affected in case of a conflict in Iraq, has assured safe delivery by converting Kuwaiti flag vessels to US flag ones.

Besides, enough supplies have been contracted to meet the country's demand in the near future.

Asserting that government had a contingency plan ready to meet any eventuality, Naik said enough supplies have been contracted from countries beyond the conflict zone.

"We import only 1.4 million tonnes of crude oil from Iraq. In the event of war only these supplies could be affected," he said adding while asserting that crude oil supplies from other sources would not be affected in case a war breaks out in Iraq.

He said a blueprint for building strategic reserves of crude oil is being prepared, which will be implemented in a phased manner as it involves huge amount of investment in constructing tankages and maintaining the stockpile.

PTI





Home   News
Search Keywords