Subscribe to Newsletter to get latest insights & analysis in your inbox. Download the ETEnergyworld App and get the Realtime updates and Save your favourite articles. He added that in addition to the stocks with oil companies, India currently has a strategic petroleum reserve of over 53 lakh tonnes, with another 65 lakh tonnes under development. "Over the past 11 years, there has been a remarkable increase in our refining capacity as well," he said. India is the third largest energy consumer and fourth largest oil refiner.

Source: Economic Times March 24, 2026 12:01 UTC